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DefMin to partially privatize companies

In December the Defense Ministry will call individual privatization tenders for the partial sale of the companies it owns, Defense Minister Imre Szekeres told daily Napi Gazdaság.

In December the Defense Ministry will call individual privatization tenders for the partial sale of the companies it owns, Defense Minister Imre Szekeres told daily Napi Gazdaság. The privatization will itself mean a capital raise at the same time, and all legal matters for the tenders have been cleared. There is already great interest around the tenders, even though the state, in compliance with the privatization law, will keep a 50% +1 stake in each of the companies.

The ministry would be happy with investors who are ready to take part in the military technology development programs as well. At the same time, the Ministry continues the sale of unused army properties. Those owned by the ministry are expected to yield Ft 14.8 billion, while those to be sold by the Sate Treasury Directorate (KVI) might bring in Ft 18 billion. (Napi Gazdaság)