Awash Winery Attracts Bid

Awash Winery, Ethiopia has attracted a bid higher than the starting price set by the Privatization and Public Enterprises Supervising Agency in the round of bids opened last week. The floor process set by the PPESA for Awash was 438,604,756 birr.

Blue Nile plc offered 458, 400,000 for the publicly owned winery which was much lower than the 277.4 million birr offered by Bosberi plc said Sileshi Tujji, Corporate Communications Expert with the PPESA.

The proposal presented by Blue Nile stipulated that it will pay 35% upfront and the rest over five years, Bosberi on the other hand offered to pay 30% before signing and the remainder at the handover.

In related news the Arba Gugu Coffee Plantation and Bilito Siraro Agricultural Development Enterprise put offered for privatization at the same time were not able to attract the starting price set by the enterprise while the Commercial Printing Press, Hamaressa Edible Oil Share Company and Construction Works and Coffee Technology Development Enterprise did not receive any bids at all. 

The board of the PPESA will announce its final decision on the privatization of Awash Winery and the other five public enterprises within the next three weeks according to Sileshi.