Divestiture of State Enterprises

Download or read book Divestiture of State Enterprises written by Pierre Guislain and published by World Bank Publications. This book was released on 1992 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: Divestiture objectives, constraints and approaches differ widely from country to country and enterprise to enterprise. This paper presents a general approach for the development of a legal framework for divestiture of state-owned enterprises in the industrial and services sectors. It does not discuss divestiture of housing, land or agricultural enterprises. It is in no way exhaustive, nor does it purport to capture all the nuances of specific divestiture. On most of the topics covered, specific legal literature exists to which the reader should refer for further information. Macro-legal aspects of divestiture are emphasized, while legal issues arising at the transaction level (the micro-legal aspects of divestiture) will only be addressed incidentally. Non-legal aspects of divestiture are mentioned only to the extent needed for the purpose of the paper. The focus is thus on the development of an overall legal framework conductive to divestiture. The main purpose of this paper is to increase the legal awareness of officials involved in divestiture programs by providing an overview of the range, complexity and potential significance of legal issues that may be encountered.