Mitsubishi Eyes Latvian Shipping
Wednesday, September 22, 1999
Latvia's privatization agency said that Japan's Mitsubishi group had expressed interest in the privatization of Latvian Shipping. The agency has set the minimum share price for a 34 percent of Shipping's 200 million shares to be sold at 0.51 lats, although a firm date for the auction has not yet been scheduled.
The winning bidder in the auction will get another 10 percent in a separate transaction for the same price.
Most of the remaining shares are to be sold in offerings for privatization vouchers and cash by September 1, 2000.