List of privatizations
From Wikipedia, the free encyclopedia
This list of privatizations provides links to notable and/or major privatizations. See also: Privatization.
[edit] Privatizations by country
[edit] Argentina
- Aerolíneas Argentinas, the former national carrier. However, in 2009, it was renationalized.
- ENTel (national telecommunications company) - partitioned and sold to France Télécom and to Spanish Telefónica
- Buenos Aires Metro, given under concession but still owned by the State
- Empresa Nacional de Correos y Telégrafos (ENCoTel), given under concession as Correo Argentino. Re-nationalized in 2003
- Obras Sanitarias (water-company), given as a concession to the French conglomerate Suez, which operates it under the name Aguas Argentinas. Re-nationalized in 2006 as Aguas y Saneamientos Argentinos (AySA).
- Fábrica Militar de Aviones (FMA), sold to Lockheed Martin
- Ferrocarriles Argentinos, railway-lines all over the country (some in the process of re-nationalization under the Kirchner administration)
- Yacimientos Petrolíferos Fiscales (YPF), national oil-company sold to the Spanish Repsol. The Argentinian government in 2004 set up a new state oil company (Enarsa) from scratch.
- Gas del Estado, national gas company partitioned and sold, among others, to the Spanish Gas Natural.
- Agua y Energía Eléctrica, national electricity-production company. Partitioned and sold.
[edit] Australia
- Qantas
- Commonwealth Bank of Australia
- Telstra
- Commonwealth Serum Laboratories
- Commonwealth Industrial Gases
- Commonwealth Oil Refineries
- Electricity and natural gas supply companies in Victoria
- State-owned betting-agencies in most States
- Many long-distance and urban passenger railway services
- All freight railway services except Queensland Rail
- Public transport in Melbourne
- Most State-owned banks
- Government Printing Service (New South Wales)
- Government Cleaning Service (New South Wales)
- Government Insurance Office in New South Wales
- Sydney Airport
[edit] Bahrain
- Bahrain Telecommunications Co. (Q1 2005, $800 million)
[edit] Brazil
[edit] Canada
See also: Crown corporations of Canada
- Highway 407 (1999) - leased to private operators
- Air Canada (1988)
- Canadian National Railway (1995)
- Manitoba Telecom Services or MTS (1996)
- Nova Scotia Power (1992)
- Ontario Hydro (1999 - only partially privatized with Hydro One and Ontario Power Generation are a publicly owned company and crown corporation respectively)
- Petro-Canada (1991)
- Potash Corporation of Saskatchewan (1989)
- Saskatchewan Wheat Pool (1996)
- Teleglobe (1987) - an international telco carrier
- Telus (1991), formerly Alberta Government Telephones
- Uranium industry in Saskatchewan
[edit] Czechoslovakia
- Virtually everything after the Velvet Revolution in 1989. See voucher privatization for details.
[edit] Egypt
- The Shebin spinning and weaving factory in Menoufia in the Nile Delta was on strike against/locked out by its new non-Egyptian owners in the wake of the 2011 revolution. Workers and maybe the military now in control of the state were favoring re-nationalization, according to one report. "[L]iberal economic policy is tarred with [the old regime's] corruption," said Michael Wahid Hanna, in Cairo for the U.S.-based Century Foundation.[1] Indorama, the new Indonesian/Thai[2] owner of Shebin,[3] was not quoted in the report. Looking further back to 2000, "well considered public spinners" Shebin El Kom and STIA, were then considered to have a "redundant labor problem ... [but] would otherwise be attractive privatization buying or leasing opportunities for private investors."[4] In 2011, STIA, also known as El Nasr Wool & Selected Textiles, of Alexandria, remained "one of the largest public sector textiles companies."[5] See also Privatization#Notable examples.
[edit] Finland
[edit] France
- Credit Lyonnais (a bank - privatized in 2001)
- France Télécom (the French State has owned under 50% of France Télécom since September 2004)
- Snecma (in 2004 France sold 35% of Snecma for €1.45 billion)
- Pages Jaunes (Yellow Pages) (in 2004 France sold 32% of Pages Jaunes for €1.25 billion)
- SNCM (Société Nationale Maritime Corse Méditerranée) ferry-company. Privatized at the end of 2005.
- Électricité de France (EDF) (in December 2005 France sold 30% of EDF)
- Gaz de France (GDF) Prime minister Dominique de Villepin announced a merger between GDF and Suez; since the state owns 80% of GDF, a privatization of GDF would require the passing of a new law; the state would control only 34% of the capital of the new group: see commentary.
[edit] Germany
- Deutsche Bundespost became
- Deutsche Post Jan. 2005 - KfW buys 12% (€1.7 billion) to sell to public.
- Deutsche Telekom
- Deutsche Postbank (in 2004 the state floated a minority stake for €2.5 billion)
- Deutsche Bundesbahn became Deutsche Bahn in 1994
- UFA underwent privatization in 1921
[edit] Greece
- OTE (Οργανισμός Τηλεπικοινωνιών Ελλάδος/Hellenic Telecommunications Company) became partly privatised in the 1990s, when its only shareholder at the time, the Hellenic State, reduced its share of the company to 36%
- Olympic Airways at first, then Olympic Airlines. The Hellenic State attempted to privatise the ailing airlines five times, more or less, from 2004 onwards.
[edit] Hong Kong
[edit] Iceland
- Landsbanki Íslands hf - sold in 2003 (became NBI hf in 2008)
- Landssími Íslands hf - sold 98.8% to Skipti ehf in 2005 (renamed Síminn hf)
[edit] India
See also: List of companies privatised in India
- Maruti Udyog
- BSNL
- Delhi Airport
- Mumbai Airport
- Hyderabad International Airport
- Bangalore International Airport
- Cochin International Airport
- Many others including sporting associations, airports, tv channels, etc which were all originally government-run businesses, but were privatised by Prime Minister P. V. Narasimha Rao, which not only removed a financial burden of the government, but also revolutionised business in India. This was so, because privatising many different areas, guaranteed that the company which bought whatever was privatised, made sure that it would run well so they could make the most profit. Examples of this include the airports listed above which, all private, are being modernised and redeveloped to international quality.
[edit] Iran
[edit] Iraq
- (planned) most industries except oil, at the behest of the United States sponsored government.
[edit] Ireland
- Irish Steel - transferred ownership to Ispat, firm bankrupt, no longer exists.
- Irish Sugar - floated on stock market as Greencore. State retains one share for veto purposes.
- British and Irish Steampacket Company Limited - sold to Irish Continental
- Telecom Éireann - floated on the stock market
- Cablelink - sold to NTL Ireland. Formerly held 50/50 by Telecom Eireann and Raidió Teilifís Éireann, both state-owned at the time.
- Aer Lingus - floated on the stock market. State retains 25%
- Irish Life - sold to Irish Permanent
- TSB Bank - sold to Irish Life & Permanent
- ACCBank - sold to Rabobank
- ICC Bank - sold to Bank of Scotland
- Irish National Petroleum Corporation - all assets sold to ConocoPhillips, still exists in law
- Nítrigin Éireann - sold to its other shareholder in Irish Fertiliser Industries, Richardsons, final firm called IFI, no longer exists.
[edit] Israel
- El Al
- Zim Integrated Shipping Services
- Israel Discount Bank (partial)
- Bank Hapoalim
- Bank Leumi (partial)
- Israel Chemicals
- Bezeq
- RAFAEL Armament Development Authority (partial)
[edit] Italy
- Enel S.p.A. (1999 32% €16.6 billion, 2003 6.6% €2.2 billion, 2004 20% €7.5 billion) ([1])
- Eni
- INA
- IRI (Among which Autostrade s.p.a., Credito Italiano)
- Telecom Italia
- Terna (Enel sold 43.5% for €1.48 billion in June 2004) ([2])
[edit] Jordan
- Aramex International (Q1 2005, 75% for $150–200 million)
- Jordan Telecom
- Queen Alia's Airport
[edit] Japan
- Nippon Telegraph and Telephone
- Japan Post (half-privatized)
- Japan Tobacco
- Japan Railways Group (formerly Japanese National Railways)
[edit] Korea
- Korea Telecom
- Korea Electric Power (KEPCO; half-privatized)
- KT&G (Korea Tobacco & Ginseng)
- KOGAS
- POSCO (Pohang Iron & Steel)
[edit] Kuwait
- Kuwait Finance House (November 2004, 25% of the company for $1 billion)
[edit] Malaysia
- PosMalaysia - national postal services
- Telekom Malaysia
- Tenaga National Berhad - national electricity-generation and distribution
- Johor Water Corporation
- Pasir Gudang Local Authority
- Malaysia Airlines
- Keretapi Tanah Melaya Berhad - national railway company
- Senai International Airport
- Malaysian Airports Holding
[edit] Netherlands
- PTT, the mail and telecom company
- Nederlandse Spoorwegen
[edit] New Zealand
For more, see also: State-Owned Enterprises of New Zealand and Rogernomics
- Air New Zealand, privatized in 1989, subsequently rescued by the Crown in 2001
- Auckland Airport
- Bank of New Zealand - semi-privatized in 1987; rescued by the Crown in 1990; sold off in 1992
- Electricity Corporation of New Zealand (ECNZ) - part of which became privatized as Contact Energy in the period 1995 - 1998
- Government Print
- Ministry of Works and Development
- Natural Gas Corporation (NGC), ultimately absorbed into Vector Limited
- New Zealand Steel, privatized from 1987, now part of BlueScope Steel
- The Post Office Savings Bank (POSB), bought by the ANZ bank in 1989
- Telecom New Zealand, privatized in 1990
- New Zealand Rail Limited, privatized in 1993, became Tranz Rail Limited in 1995 - Government subsequently repurchased the track lease
- various council-controlled organisations formerly owned by territorial authorities: see also Local Authority Trading Enterprises (LATEs)
[edit] Norway
- Arcus (sold to Sucra in 2001)
- Statkorn (floated on the stock market as Cermaq in 2000, Government retains 44%)
- Christiania Bank og Kreditkasse (sold to Nordea in 2000)
- DnB NOR (floated on the stock market in 1995, Government retains 34%)
- Finnmark Fylkesrederi (sold to Veolia Transport Norway in 2003)
- Fredrikstad Energi (49% sold to Fortum)
- Kongsberg Gruppen (floated on the stock market in 1993, Government retains 50%)
- Norsk Medisinaldepot (sold to Celesio in 2001)
- NSB Gods (now CargoNet, partially sold to Green Cargo in 2002, NSB retains 55%)
- Oslo Energi (parts merged with Hafslund)
- Postbanken (merged with DnB NOR in 1999)
- Statoil (floated on the stock market in 2001, Government retains 71%)
- Telenor (floated on the stock market in 2000, Government retains 54%)
- TrønderBilene (66% sold to Fosen Trafikklag in 1999)
- Østfold Energi (parts sold to Fortum in 2001)
- Årdal og Sunndal Verk (merged with Norsk Hydro in 1986)
[edit] Pakistan
- National Refinery Limited (acquired by Attock Group of Companies in July 2005)
[edit] Poland
[edit] Qatar
- Q-Gas (Q1 2005, 50% for $600 million)
[edit] Romania
- Electrica - electricity distributor
- Petrom - national petroleum company
- Romtelecom - national telecommunications company
- Sidex - steelworks
[edit] Russia
A wide-scale privatization program was launched in 1992-1994, using a voucher privatization scheme; from 1995, a monetary scheme was used.
- Gazprom (1994)
- LUKoil (1995)
- Mechel (1995)
- MMC Norilsk Nickel (1995)
- Novolipetsk Steel (1995)
- Surgutneftegaz (1995)
- YUKOS (1995)
[edit] Saudi Arabia
- Al-Bilad Bank (November 2004, 50% valued at $400 million)
[edit] Singapore
- Port of Singapore Authority (1997)
- Post Office Savings Bank (bought by DBS Bank in 1998 and rebranded as POSBank)
- Singapore Broadcasting Corporation (1994, as the Television Corporation of Singapore; later renamed MediaCorp in 2001)
- Singapore Post
- Singapore Power
- Singapore Telecommunications (1992)
[edit] Spain
- Iberia Airlines (2001)
- SEAT (1986)
[edit] Sweden[6]
[edit] 1980s
[edit] 1990s
- SAKAB
- SSAB (wholly privatised in 1994)
- Svalöf
- Swedish Real Estate Valuation Corp
- Celsius
- Cementa
- AssiDomän
- OKPetroleum
- Pharmacia
- SEMKO
- Nordbanken (partial)
- Industrikredit AB
- SBL Vaccin
- Stadshypotek AB
- Enator
- PharmaciaUpjohn
- SAQ Kontrol
- VPC AB
- Företagskapital
- Svenska Statens Språkresor AB
- Lantbrukskredit AB
- Svensk Fastighetsvärdering
[edit] 2000s
- Nordbanken
- Celsius AB
- Grängesbergs Gruvor
- Svenska Lagerhus
- Svenska Miljöstyrningsrådet
- SAKAB
- SGAB
- Kurortsverksamhet
- Vin & Sprit - sold to Pernod Ricard for 5,626 billion euro[7]
- OMX - stock exchange - shares sold to Borse Dubai for 2.1 billion SEK[8].
[edit] Planned privatisations
- Nordea (19.5% owned by Swedish government)[9]
- SAS (50% owned by Swedish, Danish, Norwegian governments)[10]
- Telia Sonera[11] (37.3% owned by the Swedish government)
- SBAB
- Apoteket (partial, 2009)[12]
[edit] Turkey[13]
(Listing Scope >US $ 10 M.)
[edit] 1980s
- ANSAN-MEDA
- ANKARA ÇIMENTO
- BALIKESİR ÇIMENTO
- PINARHİSAR ÇIMENTO
- SÖKE ÇIMENTO
[edit] 1990s
- TÜRK KABLO
- GÜNES SİGORTA
- IPRAGAZ
- RAY SIGORTA
- GAZİANTEP ÇİMENTO
- İSKENDERUN ÇİMENTO
- TRABZON ÇİMENTO
- DENİZLİ ÇİMENTO
- ÇORUM ÇİMENTO
- SİVAS ÇİMENTO
- LADİK ÇİMENTO
- ŞANLIURFA ÇİMENTO
- BARTIN ÇİMENTO
- AŞKALE ÇİMENTO
- HAVAŞ
- METAŞ
- ADIYAMAN ÇİMENTO
- KÜMAŞ
- SÜMERBANK
- ÇİNKUR
- ELAZIĞ ÇİMENTO
- VAN ÇİMENTO
- LALAPAŞA ÇİMENTO
- KARS ÇİMENTO
- ERGANİ ÇİMENTO
- PETLAS
- ANADOLUBANK
- FİLYOS
- DENİZBANK
- BOZÜYÜK Seramik
- KURTALAN ÇİMENTO
- ETİBANK
- HAVAŞ
- KONYA KROM MAN.A.Ş.
- YARIMCA PORSELEN T.A.Ş.
[edit] 2000s
- DENİZ NAKLİYATI T.A.Ş.
- GÜVEN SİGORTA
- ASİL ÇELİK
- TAKSAN
- ESGAZ
- ETİ BAKIR
- DİV-HAN
- BURSAGAZ
- ETİ GÜMÜŞ A.Ş.
- ETİ KROM A.Ş.
- ÇAYELİ BAKIR İŞL.A.Ş.
- BET KÜTAHYA ŞEKER
- ETİ ELEKTROMETALURJI
- ATAKÖY TOURISM
- ATAKÖY Hotel
- ATAKÖY Marina
- ETI ALIMINIUM
- Cyprus Turkish Airleines
- Adapazarı Sugar Fac.
- BAŞAK INSURANCE
- BAŞAK RETIREMENT FUND
[edit] Ukraine
[edit] United Arab Emirates
- Damas Jewelry (November 2004, 55% of the company for $224 million)
[edit] United Kingdom
[edit] 1970s
- British Petroleum (1977, 1979, 1981, 1987)
- International Computers Limited (1979)
- Thomas Cook (1972)
[edit] 1980s
- Amersham International (1982)
- Associated British Ports (1983, 1984)
- British Aerospace (1981, 1985)
- British Airports Authority (1987)
- British Airways (1987)
- British Airways Helicopters (1986)
- British Gas (1986)
- British Leyland
- Alvis (1981)
- Coventry Climax (1982)
- Danish Automobile Building (1987)
- Istel (1987)
- Jaguar (1984)
- Leyland Bus (1987)
- Leyland Tractors (1982)
- Leyland Trucks (1987)
- Rover Group (1988)
- Unipart (1987)
- British Rail Engineering Limited (1989)
- British Shipbuilders (1985 - 1989, shipbuilder companies sold individually)
- British Steel (1988)
- British Sugar (1982)
- British Telecom (1984, 1991, 1993)
- British Transport Hotels (1983)
- Britoil (1982, 1985)
- Cable and Wireless (1981, 1983, 1985)
- Council Houses (1980 - present, over two million sold to their tenants) - see main article Right to buy scheme
- Enterprise Oil (1984)
- Fairey (1980)
- Ferranti (1980)
- Inmos (1984)
- Municipal Bus Companies (1988 - present, bus companies sold individually) - see main article Bus deregulation in Great Britain
- National Bus Company (1986 - 1988, bus companies sold individually)
- National Express (1988)
- National Freight Corporation (1982)
- Passenger Transport Executive Bus Companies (1988 - 1994, bus companies sold individually)
- Rolls-Royce (1987)
- Royal Ordnance (1987)
- Sealink (1984)
- Water Companies - see main article Water privatisation in England and Wales
- Anglian Water (1989)
- Northumbrian Water (1989)
- North West Water (1989)
- Severn Trent (1989)
- Southern Water (1989)
- South West Water (1989)
- Thames Water (1989)
- Welsh Water (1989)
- Wessex Water (1989)
- Yorkshire Water (1989)
[edit] 1990s
- AEA Technology (1996)
- Belfast International Airport (1994)
- British Coal (1994)
- British Energy (1996)
- British Rail - see main article Privatisation of British Rail
- 3 Rolling Stock Companies
- Angel Trains (1996)
- Eversholt Leasing (1996)
- Porterbrook (1996)
- 6 Design Office Units (1995 - 1997, sold individually)
- 6 Freight Operating Companies
- Freightliner (1995)
- Loadhaul (1996)
- Mainline Freight (1996)
- Rail Express Systems (1996)
- Railfreight Distribution (1997)
- Transrail Freight (1996)
- 6 Track Renewal Units (1995 - 1997, sold individually)
- 7 Infrastructure Maintenance Units (1995 - 1997, sold individually)
- 25 Train Operating Companies (1996, operations contracted out as franchises)
- British Rail Research (1996)
- British Rail Telecommunications (1995)
- European Passenger Services (1996)
- Railtrack (1996)
- Red Star Parcels (1995)
- Union Railways (1996)
- 3 Rolling Stock Companies
- British Technology Group (1992)
- Building Research Establishment (1997)
- Central Electricity Generating Board
- National Grid (1990)
- National Power (1991, 1995)
- PowerGen (1991, 1995)
- Girobank (1990)
- Laboratory of the Government Chemist (1996)
- London Buses (1994, bus companies sold individually) - see main article Privatisation of London bus services
- National Engineering Laboratory (1995)
- National Transcommunications Limited (1990)
- Northern Ireland Electricity (1993)
- Property Services Agency (1994)
- Regional Electricity Companies
- Eastern Electricity (1990)
- East Midlands Electricity (1990)
- London Electricity (1990)
- MANWEB (1990)
- Midlands Electricity (1990)
- Northern Electric (1990)
- NORWEB (1990)
- SEEBOARD (1990)
- Southern Electric (1990)
- SWALEC (1990)
- SWEB Energy (1990)
- Yorkshire Electricity (1990)
- Scottish Bus Group (1991, bus companies sold individually)
- Scottish Hydro-Electric (1991)
- Scottish Power (1991)
- The Stationery Office (1996)
- Transport Research Laboratory (1996)
- Trust Ports (1992 - present, ports sold individually)
[edit] 2000s
- Actis (2004 - 60%)
- British Nuclear Fuels Limited
- AWE Management Limited (2008)
- BNG America (2007)
- BNG Project Services (2008)
- Reactor Sites Management Company (2007)
- Westinghouse Electric Company (2006)
- National Air Traffic Services (2001 - 51%)
- Partnerships UK (2000 - 51%)
- Qinetiq (2002, 2006, 2008)
- UKAEA Limited (2009)
[edit] 2010s
- High Speed 1 (2010)
- Northern Rock (2012)
- The Tote (2011)
| Date | Company | % of equity initially sold | Proceeds £m |
| Feb 1981 | British Aerospace | 51.6 | 150 |
| Oct 1981 | Cable & Wireless | 50 | 224 |
| Feb 1982 | Amersham International | 100 | 71 |
| Nov 1982 | Britoil | 51 | 549 |
| Feb 1983 | Associated British Ports | 51.5 | 22 |
| June 1984 | Enterprise Oil | 100 | 392 |
| July 1984 | Jaguar | 99 | 294 |
| Nov 1984 | British Telecom | 50.2 | 3,916 |
| Dec 1986 | British Gas | 97 | 5,434 |
| Feb 1987 | British Airways | 100 | 900 |
| May 1987 | Rolls-Royce | 100 | 1,363 |
| July 1987 | British Airports Authority | 100 | 1,281 |
| Dec 1988 | British Steel | 100 | 2,500 |
| Dec 1989 | Regional Water Companies | 100 | 5,110 |
| Dec 1990 | Electricity Distribution Companies | 100 | 5,092 |
| Mar 1991 | National Power and PowerGen | 60 | 2,230 |
| May 1991 | Scottish Power and Scottish Hydro Electric | 100 | 2,880 |
[edit] United States
- Conrail
- Federal National Mortgage Association (Fannie Mae)
- Student Loan Marketing Association (SLM Corporation) (Sallie Mae)
- Railway Express Agency (REA)
[edit] References
- Sample Firms Privatized Through Public Share Offerings, 1961-August 2000 - Appendix to Juliet D’Souza, William L. Megginson (1999), "The Financial and Operating Performance of Privatized Firms during the 1990s", Journal of Finance August 1999
- Institute of Mergers, Acquisitions and Alliances (IMAA) M&A - Academic research institute on mergers & acquisitions, including privatization
[edit] Footnotes
- ^ Amos, Deborah, "In Egypt, Revolution Moves Into The Factories", NPR, April 20, 2011. Retrieved 2011-04-20.
- ^ "The Indorama Group", company website. Retrieved 2011-04-20.
- ^ "Indorama Shebin Textiles Co. S.A.E", company website. Retrieved 2011-04-20.
- ^ The impact of privatization and policy reforem on the cotton spinning industry in Egypt", Prime Contractor: Abt Associates Inc.; sponsored by Government of Egypt, Ministry of Agriculture and Land Reclamation and United States Agency for International Development; November, 2000. Retrieved 2011-04-20.
- ^ STIA Home, company website. Retrieved 2011-04-20.
- ^ Munkhammar, J. "Försäljning av statliga bolag under tre decennier", Timbro, 2007, http://www.timbro.se/bokhandel/pdf/000022.pdf
- ^ "Pernod wins auction for Vin & Sprit". The Local. 2008-03-31. http://www.thelocal.se/10800/20080331/. Retrieved 2008-03-31.
- ^ "Regeringen har sålt hela OMX-innehavet". Dagens Industri. 2008-02-15. http://di.se/Nyheter/?page=/Avdelningar/Artikel.aspx%3FO%3DRSS%26ArticleId%3D2008%255c02%255c15%255c270677. Retrieved 2008-05-02.
- ^ Shareholders | Nordea.com
- ^ Scandinavian Airlines
- ^ Privata Affärer - Staten fick 18 miljarder för aktierna i Teliasonera
- ^ Regeringen överens om att sälja apotek
- ^ Privatization in Turkey,Republic Of Turkey Prime Ministry Privatization Administration, 2010, http://www.oib.gov.tr/program/uygulamalar/privatization_in_turkey.htm