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The Investments Ministry yesterday confirmed that discussions had indeed been held between third parties and the Malta Shipyards Ltd, although no offer has been received for the privatisation of the shipyards.
MaltaToday is reliably informed that exploratory meetings took place between MSL representatives on the sale of the dockyards to a foreign, non-UK, company. The discussions have been very fruitful.
Yesterday, a ministry spokesperson said the government and MSL directors are continuously exploring ways of how the shipyards can improve overall economic performance.
“In this context as part of its normal business operations, MSL enters into discussions with third parties involved in most of the sectors in which it operates, both from the supply and demand sides.
“As an integral part of these discussions, MSL is open to consider any measures that can improve its performance or its strategic position in the global shipyard markets.”
The spokesperson said “such discussions have, are and will keep on taking place. However, these discussions do not constitute an offer for equity, which is a matter that can be dealt with exclusively by Government as the shareholder of the company. In the event that any of these discussions develop into a potential offer, such proposal would need to be referred to the Government as the shareholder for it to consider if it feels it so desirable to pursue further. For the avoidance of doubt, to date, there have been no such proposals.”
Revelations of secret talks on the sale of the Malta Shipyards last Sunday on MaltaToday were met with initial denials earlier this week from the Ministry for Investments.
It denied “allegations” that the government was in discussions with “a UK firm” – playing on the detail that the company concerned is not actually British.
But last Sunday, General Workers’ Union newspaper It-Torca also revealed that a local entrepreneur and his consultant, which it said was a former Nationalist minister, had approached a government member about the purchase of the shipyards.
In an interview appearing today in sister newspaper Business Today, former finance and foreign minister John Dalli was asked whether he was the former minister involved in these talks. Dalli replied by stating he was not brokering a deal on the drydocks “with any British company”.
For his part, GWU secretary general Tony Zarb said the talks over the shipyards were news to him.
But an unnamed contact at the union said that senior members of the union were definitely involved in some preliminary meetings. The same source added that all key players at the dockyard had been involved.
The GWU weekly reported allegations by American entrepreneur Joseph Cala, who claimed he was told the shipyards would be put up for sale when government subsidies cease by October 2008.
Cala was in Malta to negotiate a USD5 billion contract for the construction of 10 ships. He spoke to GWU eight months after being refused an estimate from Malta Shipyards Ltd. |
