Recent public enterprise commercialisation, restructuring and privatisation assignments

• Bosnia and Herzegovina – support to Enterprise Sector Recovery Fund (ESRF): Monitoring Agent for ESRF, a £ 15 mill. multi-donor technical assistance fund that will oversee the medium term restructuring of the enterprise sector, encourage improvements in the business environment, promote labour market reforms, and support associated restructuring of the pensions and health care financing systems. Responsibilities include: review of projects proposed for financing by the ESRF at conceptual, terms of reference, tender documentation, and contract approval stages; review of quarterly reports of ESRF operations prepared by the ESRS; and review and comment to the donor council on the annual budget proposal of the ESRS.
• Egypt – TA to Government's privatisation strategy: EU-funded contract to provide team of four full-time experts plus pool of short-term experts to provide technical, financial, legal, marketing and other skills to the Egyptian Chemical Industries Holding Company in pursuit of the Government's objective to privatise the 19 affiliates/subsidiaries of the holding company.
• The Gambia – SOE restructuring: Assistance to the Ports Authority in transition from Statutory Authority status to a limited liability company. Included preparation of Memorandum of Understanding and draft Memorandum and Articles of Association for new company.
• Egypt – State-owned enterprise review: Comprehensive review of three state-owned Egyptian cement companies and preparation of terms of reference designed to encourage international cement companies to enter into management service contracts with these companies. The review achieved transfer of knowledge and expertise, particularly in the area of pollution mitigation and environmental control. Included a review of markets and financial and management information systems.
• Egypt – financial, legal, engineering pre-privatisation advice: EU-funded technical assistance in the privatisation of two locally-based refractories and building materials manufacturing companies including: technical; financial; legal and engineering analysis; valuation of companies; recommendations for restructuring and privatisation strategies; and assistance to Egyptian Government in the implementation of recommendations.
• Egypt – privatisation assistance: Assistance in the privatisation of five hotels in Upper Nile regions, (part of an EU-funded privatisation programme). Included advice on privatisation strategy, valuations on a number of bases (net asset, depreciated replacement cost, future earnings and comparative sales), preparation of selling memoranda, investor search and assistance in sale negotiations.
• Ghana – privatisation advice: Privatisation of the National Shipping Line of Ghana as part of a World Bank-funded privatisation programme including comprehensive diagnostic study; recommendations on privatisation strategy; asset and future earnings valuations' preparation of information memorandum; investor identification; and assistance in negotiating sale.
• Guyana – privatisation policy advice: Assistance to the privatisation unit, Ministry of Finance in Guyana, involving the selection of priority enterprises for privatisation and the implementation of these recommendations. Advice was also given to the unit on institutional structuring and implementation procedures.
• Mongolia – privatisation and restructuring advice: Advice to the State Privatisation Commission on privatisation of the residual state holdings in companies, preparation of model restructuring approaches to a construction company and a flour mill, and participation in a consultants' training programme.
• Nigeria – privatisation advice: Privatisation, technical and financial experts on team advising Nigerian Bureau of Public Enterprises on the privatisation of NICON Insurance Plc.
• Sierra Leone - privatisation support: Preparation of privatisation dossiers (Info Memo, ITT, advertisement, evaluation criteria and timetable) for three non-core services operated by the Ports Authority, viz port security; vehicular ferry service; and slipway and shipyard.
• Sierra Leone – privatisation support: Review of privatisation potential of the National Insurance Corporation and recommend to Government an optimum divestiture strategy including market, operational and technical reviews and assessment of achievable resale value.
• Guyana – privatisation support: Marketing, operational and financial review of three agri-based public enterprises and development of recommended divestiture strategies.
• Nigeria - privatisation support: privatisation, technical and financial advice to the Bureau of Public Enterprises on the privatisation of NICON Insurance Plc.
• Egypt - privatisation support: EU-funded privatisation assistance for two refractories and building materials manufacturing companies, including technical, financial, legal and engineering analysis, valuation of companies, and development of restructuring and privatisation strategies.
• Ghana – privatisation policy advice: Recommendations for the implementation of Employee Share Ownership Schemes, to be applied by Government as an integral part of the State Enterprise divestiture process.
• Egypt - privatisation support: EU-funded privatisation advice for five hotels in Upper Nile region, including privatisation strategy, valuations on a number of bases (net asset, depreciated replacement cost, future earnings and comparative sales), selling memoranda and investor search.
• Russian Federation – SOE Valuations: EBRD-funded valuation of six State-owned grain supply enterprises and recommendations to the Privatisation Centre on optimum privatisation strategies.
• Estonia – utilities restructuring: Technical and financial evaluation of EBRD–funded rehabilitation of water and wastewater treatment and distribution network and infrastructure undertaken by Tallin Water.
• France – SOE restructuring assessment: Advice to the EU on implementation by Air France of the restructuring measures linked to the Commission’s Decision to authorise a capital increase for the airline, including compliance with restructuring commitments (future viability, staff reduction programme, consolidation of subsidiaries, etc.)
• Kenya - utilities restructuring: Engineering and financial advice to Kenya Power and Light Company designed to improve the technical, operational and managerial efficiency of the utility.
• Cyprus - SOE restructuring support: Preparation of a 10-year strategic Masterplan for the Cyprus Broadcasting Corporation, including a review of the organisation and management structure, formulation of an IT strategy and marketing assistance.
• Kenya – support to utilities regulator: Assisted the Electricity Regulatory Board to forecast future load requirements in the light of water shortage for hydro power. Prepared operating and financial assessments for both the public generator and distribution companies as well as forecasting likely growth of independent power producers.
• The Gambia – SOE workforce restructuring support: Manpower development study for the Ports Authority including job analysis and evaluation, pay and grading review, organisational and manpower planning and training programme.
• Greece – SOE restructuring assessment: Financial review of Olympic Airways to assess the extent to which the airline had adhered to the restructuring plan agreed between the EU and Government. Included analysis of financial operations, identification of financial impact of restructuring measures and preparation of ten year forecast designed to assess the future viability of Olympic Airways as an independent, non-State supported airline
• Egypt – SOE restructuring support: Comprehensive review of three State-owned cement companies and preparation of Terms of Reference designed to encourage international cement companies to enter into management service contracts with these companies, thus achieving transfer of knowledge and expertise, particularly in the area of pollution mitigation and environmental control.

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