Public Enterprises

1. Inclusion of the company/asset in the privatization plan.
2. Valuation: Carrying out the process of valuation, approval of reserve price by the relevant parties like Central Auditing Agency, specialized committee (article 19) for assets offered, and BOD and General Assembly (GA) of the AC.
3. Approval of Sale of Majority: by the BOD and GA of the HC.
4. Recruiting an investment promoter where needed.
5. Advertising for the offering of the company/asset.
6. Due diligence period given to investors (normally 2-3 months).
7. Receiving and opening the bids on the deadline date.
8. Bid evaluation and ranking of offers by assigned relevant committee.
9. Negotiation with the best bidder(s).
10. The results of the bidding process are submitted to the Ministerial Group to approve in order to proceed with the sale process.
11. The HC BOD and GA approve/disapprove of bid-evaluation results.
12. Preparing the legal selling documents and contract.
13. Signing of the contract with the investor.