LATVIA: LATVIAN SHIPPING COMPANY PRIVATIZATION FAILS ONCE MORE.(Brief Article)
From: IPR Strategic Business Information Database
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Date: 12/23/1999
The Latvian Privatization Agency (LPA) on 21 December confirmed that the planned auction for a minority stake in Latvijas Kugnieciba (Latvian Shipping Company, LASCO) failed once again, LETA and BNS reported. The only bid submitted by the 20 December deadline came from a subsidiary of Russia's LUKOil, but it failed to meet all the requirements set by the LPA, including submitting a security deposit. Before the bad news was announced, Economics Minister Vladimirs Makarovs chimed in ...
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