Mention the fat fees to be earned from privatization and the last place most investment bankers would think to go hunting for them is the US. But there is a privatization programme under way in the US, and 1996 is likely to witness the first sell-off since the Philadelphia-based Consolidated Rail Corp (Conrail) was returned to the private sector in the early 1980s.
It’s an unusual transaction. On the block is United States Enrichment Corp (USEC), a government-owned entity which currently has an 88% share of the domestic uranium-enrichment business and a 40% share worldwide.
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