Ontario mulling asset sales: report

Wed Dec 16, 2009 1:12am EST
 
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(Reuters) - The government of the Canadian province of Ontario is considering selling all or part of its holdings in state-owned businesses as it grapples with a C$24.7 billion deficit, the Globe and Mail reported on its website late on Tuesday.

The provincial government recently hired CIBC World Markets Inc and Goldman Sachs Group Inc to work on a blueprint for possible privatization of agencies including Hydro One Inc, the Ontario Lottery and Gaming Corp, and the Liquor Control Board of Ontario, the paper said, citing investment banking sources.

A spokesman for the Ontario government could not be immediately reached for comment by Reuters outside regular Canadian business hours.

(Reporting by Ajay Kamalakaran in Bangalore; Editing by Muralikumar Anantharaman)