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II. Privatization Process: Making Privatization Work - Key Issues & Approaches |
With all the factors discussed above in mind, certain specific steps have emerged as most likely to achieve success. This section discusses what these steps are, why they are taken, and how they are advanced.
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G. The Sale Process |
1. The Launch
The launch of a privatization should begin with preparation of the documentation and effective and targeted publicity.
Good publicity is important to single out a country's privatization from the others that may also be bidding for investor interest. This publicity should be geared toward attracting the strategic international investor. Hence, publicity should be focused and aggressive.
The Moldovan distribution sale experience is instructive. After announcing that it would sell its distribution assets, a Moldovan delegation generated awareness of the sale by holding a briefing conference in London to answer questions from the press. The delegation then met with potential investors to provide more detailed information. These steps showed that the government was committed to the privatization and had an understanding of investors' needs.
Advisors can and should be used in the publicity process. As experienced participants in past tender processes, they can educate the privatizing country on what potential investors are looking for and how to attract them.
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Source: |
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Table
of contents |
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I. Power Sector Privatization |
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II. Privatization Process |
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Conclusion |
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