he State Capital Investment Corporation (SCIC) and the Australian Qantas are in the final stage of negotiations to sell the state owned shares in Pacific Airlines to the Australian air carrier, a source from SCIC said.The source said that the official contract on the sale of the stakes will be inked at the end of March or in the first quarter of April at the latest.
The source has declined to reveal the value of the contract and how many percentages the second biggest Australian air carrier will hold, however, he said that SCIC would retain the controlling stakes in Pacific Airlines.
The Australian air carrier began negotiating to buy a proportion of Pacific Airlines' shares in January 2007, which has been valued at 167mio Us$. It is said that Pacific Airlines would sell 30% of its shares to foreign investors, however, the figure has not been confirmed.
In addition to selling shares in Pacific Airlines, SCIC is also considering selling shares in other enterprises to which it makes capital contribution in order to provide more 'commodities' to the stock market.
In an interview given to the press agencies recently, Le Song Lai, Deputy Director General of SCIC said that in 2007, SCIC would have 22 more companies listed on the stock market.
In 2007, SCIC plans to withdraw VND227bil (14.18mio Us$) worth of capital from 50 enterprises. The majority of them are small enterprises which do not operate in important fields.
Source: VNE
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