Price, schedule set for shipping company

  • 1999-09-16
  • By Steven C. Johnson
RIGA - The privatization agency finally came to terms last week on how and when to sell off the shipping company Latvijas Kugnieciba, but not before a dispute between the prime minister and economics minister sent tremors through Latvia's two-month old government.Under the regulations adopted Sept. 10, 44 percent of the shipping company's shares will be sold to a strategic investor and 34 percent will be auctioned off to the highest bidder, who will then be offered another 10 percent of shares.The minimum share price was set at 0.51 lats ($0.88), midway between the range of 0.44 to 0.59 lat...
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