The Executive Privatization Commission (EPC) on behalf of the Government of Jordan and HSBC consortium officially signed on Thursday July 8th 2004, a financial advisory services agreement for the restructuring and privatization of Jordanian Phosphates Mines Company.
The consortium will provide technical, financial and legal advisory services to the Jordanian restructuring and privitatization team entrusted with proceeding with required measures for the completion of the transaction, Petra news agency reported. The duration of this contract is expected to be over a period of at least 18 months during which the GoJ seeks to acquire required consultancies in production, marketing and administrative matters with the main objectives of raising JPMC productivity, profitability and competitiveness while safeguarding the rights of all workers.
Adel Kodah EPC Chairman, Chairman of JPMC Steering Committee signed on behalf of Jordanian side, Karim Souaid, Head of Corporate Finance Department/HSBC signed on behalf of the consortium. The consortium comprises local and international renowned advisory services namely: Behre Dolbear/ Technical advisor, Allen & Overry/ International Legal advisor, Sharif Al-Zo'bi/ local legal advisor (counterpart), and deloitte & Touche/ accounting and auditing advisor. (menareport.com)
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