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The formula for the denationalization of INSIG |
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Wednesday, 07 October 2009 |
 The government will try once again to denationalize the only state company of insurance, INSIG. The formula of the denationalization was presented in the assembly where was given the first approval from the parliamentary commission of economy. According to the new formula, every interested buyer should have a certain experience in the market of insurance or should be partner with an Albanian or foreign insurance company. For the private buyers are offered 100% of the shares, but if the buyer wants to by less than 100%, the remaining part will be on sale for the public.
The formula precise the sold in an opened international tender, but with a price not less than the last denationalization last year. Last year INSIG was sold to an American company for 40 million euros, but it was not finalized, because the buyer withdrew because of the international financial crisis. Now INSIG is completely part of the state and it will be sold in three years after the approving of the formula.
Adi Darsi
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