France May Sell Parts of Nationalized Firms
France’s industry minister said the Socialist government may sell to investors parts of the companies it nationalized three years ago.
Industry Minister Edith Cresson said the six big industrial groups that the Socialists nationalized when they assumed power in 1982 needed capital to finance growth.
Last week, the state-owned construction supplies maker, Cie. de Saint-Gobain, said it would sell a 15% interest in its profitable packaging subsidiary, Saint-Gobain Emballage SA. The sale is expected to raise the equivalent of about $16 million.
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