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[Nov 2017] Kombolcha Textile S.C Latest Ethiopian News AddisBiz.com | Ethiopian Business Directory & Portal - Addis Biz

Tiret Corporate to take over Bahir Dar and Kombolcha Textile Share Companies

The Prime Minister Office has given the order to Ministry of Public Enterprises (MoPE) to transfer Bahir Dar Textile S.C, and Kombolcha Textile S.C, to Tiret Corporate, an endowment company affiliated to the ruling party in the Amhara Regional State. However, the transfer will be made at a price lower than expected.

Tiret offered 450 million Br and 315 million Br for the acquisition of Kombolcha and Bahir Dar textile factories, respectively. It has been informed of the decision and is expected to sign a contract soon. Registered as

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Privatisation Bid by Three Firms Opens 2015/16 Fiscal Year

The opening privatisation bid for the 2015/16 fiscal year, which has just started, has drawn three bidders for one enterprise and none for the other four.

The last fiscal year was bleak for the Privatisation & Public Enterprises Supervising Agency (PPESA), which was able to privatise just one company.

The latest bid was opened on the afternoon of July 16, 2015 in the presence of bidders’ representatives and procurement officers. The Agency had offered to sell Bilito Siraro Farm, Bahir Dar Textile S.C. and Kombolcha

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Fairfax, American Investment Firm, to Buy 75pc of State-Owned Cork Maker

The Privatization & Public Enterprise Supervising Agency (PPESA) has finally decided to award Ethiopian Crown Cork & Can Manufacturing Industry S.C. (ECCCMI) to Fairfax Africa Fund, LLC, a company that offered 206.2 million Br to purchase 75pc of the state owned enterprise.

On March 5, 2015, the agency made an opening for three companies, ECCCMI, Agricultural Mechanisation Services Enterprise, and Bilito Siraro Farm. Moreover, two companies, Bahir Dar Textile S.C and Kombolcha Textile S.C were made available by the Agency

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