France is interested in some sectors that are nominated for partial or complete privatization in Lebanon, especially the country’s national carrier Middle East Airlines, a media report said on Friday.
Citing preliminary reports, al-Akhbar newspaper said MEA’s value will be estimated at more than $1 billion and a law to sell around 49% of its shares will be devised.
“French transportation giant CGM, which is managed by Lebanese-French businessman Rudolph Saade, desires to acquire a large share of MEA,” the daily quoted sources as saying.
Sources close to the French company meanwhile said that it has been offered only 10% of the Lebanese company’s shares, as MEA chairman Mohammed al-Hout was quoted as saying that should the privatization proposal be implemented, a cap of 3% will be imposed on the shares of any stakeholder.
According to al-Akhbar, the French are also interested in Lebanon’s mail sector, whether through purchasing the LibanPost company or obtaining a BOT contract to operate it, in addition to the Casino du Liban and banks owned by the central bank.
“Other French companies are proposing a project for a comprehensive administration of the (Beirut) port,” the daily said.
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