UNDER the tender scheme, foreign companies will be invited to bid for a 25 percent share in Shenzhen Energy Group, 45 percent in Shenzhen Water Resources Group, 24 percent in Shenzhen Gas Co., and 45 percent in Shenzhen Bus Group.

　　For the fifth company, the Shenzhen Food Products General Corp, stakes of 30 and 40 percent will be sold to two foreign companies, with one of them holding a controlling stake. These company shares will only be offered to foreigners who intend to cooperate for a long time and help add value to the assets.Morgan Stanley-funded China International Capital Corp was appointed the lead adviser for the asset sales. The five companies have also invited their own financial advisers. Shenzhen Gas Group, Shenzhen Water Resources Group and Shenzhen Bus Group appointed the China International Capital Corp as the top adviser. Shenzhen Food Products Group intends to co-operate with Holland Co-operative Bank.Shenzhen city officials will select preliminary foreign candidates in August and September and decide on final buyers and sales agreements in October and November, with the deals to be completed by the end of the year.The local government will begin to evaluate the firms’ assets and select preliminary foreign candidates in August and September. The final buyers and sales agreements will be decided in October and November. The international tender is on a trial basis, according to Mayor Yu Youjun. He said the government will select the second batch of enterprises next year for international tender based on the success of this year’s experience.