List of privatizations
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List of privatizations is a link list for notable privatizations. See also: Privatization.
[edit] Argentina
- Aerolíneas Argentinas, the former national carrier
- 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
- Correo Argentino, given under concession. Re-nationalized in 2003
- Obras Sanitarias (water company), given to concession to the French conglomerate SUEZ, who operates it under the name Aguas Argentinas
- Fábrica Militar de Aviones (FMA), sold to Lockheed Martin
- Ferrocarriles Argentinos, railway lines all over the country (some are being re-nationalized under the Kirchner administration)
- Yacimientos Petrolíferos Fiscales (YPF), national oil company sold to the Spanish Repsol. The government is now tring to create a new state oil company from scratch.
[edit] Australia
- Qantas
- Commonwealth Bank of Australia
- Telstra (49% privatised; remaining 51% to be privatised soon)
- Commonwealth Serum Laboratories
- Commonwealth Industrial Gases
- Commonwealth Oil Refineries
- Electricity and gas supplies in Victoria
- State-owned betting agencies in most States
- Many long-distance and urban passenger railway services
- All freight railway services except Queensland Rail
- Most State-owned banks
- Government Printing Service (New South Wales)
- Government Cleaning Service (New South Wales)
- Government Insurance Office in New South Wales
- All public transport in Melbourne
- Sydney Airport
[edit] Bahrain
- Bahrain Telecommunications Co. (Q1 2005, $800 million)
[edit] Brazil
- Telebrás
- Embratel
- RFFSA
- Vale do Rio Doce
[edit] Canada
- Air Canada
- Canadian National Railway
- Petro-Canada
- Telus - In the province of Alberta, formerly Alberta Government Telephones
- Uranium Industry in Saskatchewan
- Teleglobe - An international telco carrier.
- Saskatchewan Wheat Pool
- Nova Scotia Power
- Manitoba Telecom Services (MTS)
- Potash Corp
- 407 ETR
- Ontario Hydro
[edit] Czechoslovakia
- Virtually everything after the Velvet Revolution in 1989. See voucher privatization in Czechoslovakia for details.
[edit] Finland
[edit] France
- France Télécom (the French State is under 50% of France Télécom since september 2004)
- Snecma (in 2004 they sold 35% of Snecma for €1.45 billion)
- Pages Jaunes (Yellow Pages) (in 2004 they sold 32% of Pages Jaunes for €1.25 billion)
- SNCM (Société Nationale Maritime Corse Méditerranée) Ferry company. Privatized end of 2005.
- Électricité de France (EDF) (in december 2005 they sold 30% of EDF)
- Gaz de France (GDF) Prime minister Dominique de Villepin announced a merger between GDF and Suez company; since the state owns 80% of GDF, a new law would have to be passed in order to accept a privatization of GDF; the state would control only 34% of the capital of the new group [1].
[edit] Germany
- Deutsche Bundespost became
- Deutsche Post Jan. 2005 - KfW buys 12% (€1.7 billion) to sell to public ([2]).
- Deutsche Telekom
- Deutsche Postbank (in 2004 a minority stake was floated 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) was partly privatised in the 1990s, when its only shareholder at the time, the Hellenic State, reduced its share at 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, within the last 10 years.
[edit] India
- One of the few countries where privatization and globalization efforts have been carried out at the same time, and quite successfully, within a short span of a little over a decade. These efforts are ongoing and will continue over the next several years.
- Maruti
- BSNL
[edit] Iraq
- (planned) most industries except oil, at the behest of the United States occupation 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 stock market
- Cablelink - sold to NTL Ireland. Was 50/50 held by Telecom Eireann and Radio Telefis Eireann, both state owned at the time.
- Aer Lingus - floated on 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] Italy
- Enel S.p.A. (1999 32% €16.6 billion, 2003 6.6% €2.2 billion, 2004 20% €7.5 billion) ([3])
- Terna (Enel sold 43.5% for €1.48 billion in June 2004) ([4])
[edit] Jordan
- Aramex International (Q1 2005, 75% for $150-200 million)
[edit] Japan
- Nippon Telegraph and Telephone
- Japan Post (half-privatized)
- Japan Tobacco
- Japan Railway (formerly Japanese National Railways)
[edit] Kuwait
- Kuwait Finance House (November 20004, 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
- Auckland International Airport
- Bank of New Zealand - subsequently rescued by the Crown, and later reprivatised
- 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] 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] Saudi Arabia
- Al-Bilad Bank (November 2004, 50% valued at $400 million)
[edit] Spain
[edit] Sweden
- Nordea (19.5% owned by Swedish government) ([5])
- OMX (6.75% directly owned by Swedish government) ([6])
- SAS (50% owned by Swedish, Danish, Norwegian government) ([7])
- Telia Sonera (56.68% owned by Swedish and Finnish government) ([8])
[edit] Planned privatisations
- All of the above (Nordea, OMX, SAS and Telia Sonera)
- SBAB
- Vin & Sprit
- Vasakronan
[edit] United Arab Emirates
- Damas Jewelry (November 2004, 55% of the company for $224 million)
[edit] United Kingdom
- British Telecom
- British Steel
- British Gas
- British Airways
- British Airports Authority
- British Petroleum
- British Rail
- Cable and Wireless
- British Leyland - privatised piecemeal as Rover Group, Jaguar plc, Leyland Trucks, Leyland Bus, Istel, Unipart, Alvis plc, and numerous other companies, some of which have since recombined
- Royal Aircraft Establishment - partial privatisation
- Water industry (England & Wales)
- Electricity Industry
- British Coal Industry
- Air Traffic Control system
- Over two million council-owned houses sold to their tenants
- Her Majesty's Stationery Office - HMSO - Partial privatisation
- British Technology Group (now BTG plc)
- Thomas Cook (1972)
- National Bus Company
- Scottish Bus Group
- Many municipal bus companies (local authority owned)
- Passenger Transport Executive owned bus companies
- London bus operators
- Rolls-Royce plc
- British Shipbuilders
- British Aerospace
- The Independent Broadcasting Authority's engineering (transmitter) department (privatized as Network Transcommunications Ltd, now NTL)
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)
- New Jersey Transit
- SEPTA
- SJTA
- BCBC
- DRJTBC
- United States Postal Service
- Corporation for Public Broadcasting
- Amtrak
- Tennesse Valley Athuority
- FCC
- SEC
- FBI
- CIA
- EPA
- NJDMV
- NSTB
- NITA
- NASA
[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 (MANDA) M&A - Academic research institute on mergers & acquisitions, including privatization