A dozen bidders approved for PSO privatisation
January 17, 2007The Privatisation Commission (PC) approved a dozen bidders in the privatisation of Pakistan State Oil (PSO), the country’s top oil marketing firm.It said bidding for a 51% stake, with management control, was expected to take place in March, without giving a specific date…The PC said in a statement on Wednesday the bidders included Abraaj Capital, Abu Dhabi Group, Al-Ghurair Investment - all from the United Arab Emirates - a consortium grouping Saudi-based Aljomaih Group and Kuwait’s Noor Financial Investment; Bakri International Energy Systems, Dabbagh Group Holding of Saudi Arabia, Goldman Sachs (Asia) Finance and Vitol S.A. of Switzerland.
Local firms qualified for bidding are MCB Bank, Fauji Foundation, Attock Group of Companies and the Kohinoor Group, which is led by Kohinoor Textile.
US investment firm J.P. Morgan is the financial adviser for the sale…. Source : Business Recorder
