Libya is moving steadily but surely toward privatization as it placed the second-largest public company up for grab by the private sector.
Shares of the National Company for Feed and Mills were put on sale as part of Libya's plan to cut down its public sector while boosting the private one.
The company, which operates 15 plants specialized in the production animal feed as well as grinding wheat and producing pastas, has a capitalization of about $218.5 million.
The second-biggest public firm to be put up for privatization after the Arab Cement Co, employs 1,664 workers who will be able to buy 10 percent of the shares while the remaining shares will be offered to the public.
Source: UPI
