Cash-starved France prepares to sell off Elf Aquitaine stake. (Societe Nationale Elf Aquitaine)

The Oil Daily | June 23, 1993| | Copyright

PARIS -- A cash-starved French government is expected to announce in early July details of a sell-off of its remaining 50.79% interest in the world's eighth-largest nongovernment oil company, Societe Nationale Elf Aquitaine, in a deal worth $8.7 billion.

Industry and government sources here say Elf Aquitaine, France's largest oil and natural gas producer, will be at the head of a list of a handful of potentially lucrative state-owned oil companies that will be first on the block for sale.

New Conservative Prime Minister Edouard Balladur said in late May ...

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