International Business

Privatization Nearly Complete in Former East Germany: After selling off nearly 40,000 inns, stores and other companies, the agency charged with privatizing East Germany’s state sector said its task is nearly over. The Treuhandanstalt, or Trustee Agency, which once was reportedly the largest corporation in the world, said it has only 131 companies left to sell before it closes shop as scheduled at year’s end. The agency took over ownership of state companies employing 4.5 million East Germans when Germany was united in October, 1990. Since then, it has disposed of more than 14,000 companies, along with 25,000 small operations such as restaurants, inns, pharmacies, bookstores and theaters.