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A Policy Maker's Guide to Privatisation

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Policy makers and privatisation experts agree that it is critical to “get privatisation right.” A well-planned and executed transaction, backed by sound rationales, institutional and regulatory arrangements, good governance, and integrity can have consequences on future divestment activity by enhancing investor confidence while gaining the support of stakeholders and the public. Drawing on the internationally agreed OECD Guidelines on Corporate Governance of State-Owned Enterprises and decades’ worth of national experience across both OECD and Partner economies, this Policy Maker’s Guide to Privatisation provides practical advice to newcomers on key stages of the process from inception to post-privatisation. With global privatisation activity trending upwards and expected to rise, this Guide can support policy makers in their decision making process in the years to come.

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Key questions for policy makers

The OECD has developed this guide as a tool support the implementation of the Guidelines on Corporate Governance of State-Owned Enterprises (“OECD SOE Guidelines”). The Guide is organised in the form of a manual on the step-by-step process of conducting a privatisation from start to finish. It is primarily addressed to the entities responsible for the state-ownership function or entities or which are responsible for orchestrating the privatisation process. These key questions should be answered by policy makers for each stage of the privatisation process before embarking on an individual transaction or full-scale privatisation programme. The focus is on transactions that result in the full or partial privatisation of enterprises involved in economic activities, and where the privatisation results in a significant change in the degree of control exercised by the state if it remains shareholder.

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