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Article: Sonasid sale schedule unclear. (Societe Nationale de Siderurgie)(Morocco)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- March 21, 1997
CopyrightCOPYRIGHT 1997 MEED Middle East Economic Digest. All Rights Reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Doubt has been cast over the timetable for further privatisation of steel company Societe Nationale de Siderurgie (Sonasid), following a lukewarm response to an invitation for expressions of interest in the sale, analysts say.
Potential investors had until the end of February to express their interest in buying 35-62 per cent of the company. In the second week of March, the Privatisation Ministry and Casablanca Finance Group, which advises the government on the sale, declined to comment on whether they had received any expressions of interest.
The ministry plans to sell the company through direct negotiations rather than a tender procedure, in order to make ...