The Privatization and Public Enterprises Supervisory Agency (PPESA) is negotiating to transfer the state’s 80 percent stake in Sodere Resort Hotel to local firm, DEK Oromia Business Investment PLC. The agency has unsuccessfully negotiated with local and international investors about fully or partly privatizing resort. According to Wondafrash Assefa, public relations head of PPESA, the discussions are ongoing, although most of the requirements the agency demanded have been met by the potential purchasers.
“The agency has suggested the interested investors readjust some proposal requirements that will help to the transform the resort,” Wondafrash told Capital. The public relations head said the investors will expand and upgrade the resort that the government intends to keep a 20 percent stake in. If negotiations are successful, the final approval will given by the board of the agency chaired by Hailemariam Desalegn, government whips at the Parliament.