Has Govt. sold its 49% share in GPC?

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Has Govt. sold its 49% share in GPC?

May 24, 2008 Letters

Dear Editor,
In 1999, the Government of Guyana sold 51% of the shares of the Guyana Pharmaceutical Corporation (GPC) through a public bid.

I am asking whether the government was paid or whether it converted the sale price into equity in the new company that was formed.

I am also asking the Privatization Unit what has become of the remaining 49 per cent share the government had in the establishment. Was this sold and if so was it sold through a process of competitive bidding?

More importantly, what price did the government gain for this 49 per cent?
Name withheld

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