PRIVATISATION â WHAT'S NEXT 13 May 2013 - CASE

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13 May 2013, WarsawPRIVATISATION – WHAT’S NEXTCOMPOSITION OF SOE BOARDSIN FINLAND“Privatisation and what’s next?”Warsaw13 th May 2013Mr. Arto HonkaniemiSenior Financial CounsellorOwnership Steering DepartmentPrime Minister’s OfficeGovernment of FinlandWHY IS THE STATE OF FINLANDOWNER IN COMPANIES ?• No nationalized industries• No “investor portfolio”1. The state has made investments to support industrializationof the country or specific regions- heavy industry2. Parts of the state organization have been turned into stateenterprises, then incorporated, then listed- utilities3. The state has organized certain specific tasks in corporate form- often 100 % owned, sometimes state monopolies4. State ownership as a consequence of the banking crisis in late -90s- financing, real estate38Composition of soe boards in Finland
13 May 2013, WarsawPRIVATISATION – WHAT’S NEXTSTATE CORPORATE OWNERSHIPIN FINLAND TODAY• The State of Finland is a significant Shareholder in58 Companies• All of the same corporate form under the Companies’ ActSTATE CORPORATE OWNERSHIPIN FINLAND TODAY• 35 Companies operate under market terms ina competitive business environment– under the administration of the Ownership Steering Departmentat the Prime Minister’s Office– 14 Companies of these 35 are stocklisted• 11 of these 14 are delegated to a Holding Company– value of the listed portfolio appr. 15 500 million Euros– this corresponds to appr. 10 % of the market value of allCompanies listed at the Helsinki Exchanges39Composition of soe boards in Finland
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Page 7 and 8: PANEL 1Panel: 1The state as astakeh
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Panel: 4Lessons learnedand dangers
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PRIVATISATION â WHAT'S NEXT 13 May 2013 - CASE