France edges towards privatising R-P. (Rhone-Poulenc S.A.)

France's largest chemical group, Rhone-Poulenc, looks set to become fully privatised later this year, following the publication of its 1992 results. Despite the recession, 'excellent' performances in the group's pharmaceuticals and specialty chemicals divisions helped to lift net income 9 per cent, to FFr2184M.

With a conservative victory likely in the French elections this month, the success of Rhone-Poulenc's recent share offering (see C&I 1993, 69) is likely to persuade the new government to sell the remaining state shareholdings in the group, totalling 62 per cent, with minimal delay.

The group's current performance is seen as a vindication of the programme of …