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Sale of Mozambican Riopele Textiles nearly complete: IGEPE
30
Aug '12
Mozambican state stakeholding company Instituto de Gestão das Participações do Estado (IGEPE), has announced that the process of selling shares of the bankrupt Riopele textile factory to a private investor is almost complete.
 
Speaking on the sidelines of the 16th IGEPE Advisory Council meeting in Maputo, IGEPE Head Apolinário Panguene said only a few bureaucratic issues are left to be sorted out before they can close a stake sale deal of the textile factory based in Marracuene district of the Mozambican capital. 
 
The IGEPE Chairperson said they are closing negotiations with a Portuguese group, who are interested in reviving manufacturing operations at the Riopele textile factory that has remained stagnated for a long time now.
 
The process of selling state’s stake in six other companies viz, Cegraf, Fábrica de Tintas da Beira, Graphic, Pintex Maputo, Tipografia Clássica Comercial da Beira and Lusalite, is also close to conclusion, the Chairperson informed.
 

Fibre2fashion News Desk - India


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