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Article: Putting back the pizzazz.(privatization in Egypt)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- April 20, 2001
CopyrightCOPYRIGHT 2001 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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ON 31 May, Egypt's bid to revive its privatisation programme faces a big test. It is the deadline for bids to buy the Omar Effendi department store chain, the first in a series of assets to be offered for sale in a revamped and, the government hopes, more investor-friendly format. Several companies bid to buy Omar Effendi in a package deal tender in 1999, but the process was aborted because of a failure to agree on price. This time round, the government and its advisers say they have learned lessons from the previous failures, and they are confident that they will be able to clinch this deal and dozens more by the end of the year.
Since the Omar Effendi tender ...