The transaction also provides an opportunity to leverage the Bank's financing through ALCB
Fund's co-investments with local institutional investors such as pension funds and insurance companies; thereby amplifying the scope and impact investments.
The decision by Klein's Tories to privatize the ALCB was a policy shift steeped in all of the tenets of neoliberalism.
Steve West, minister for municipal affairs, whose portfolio included the ALCB, announced the privatization initiative on 3 September 1993 to the surprise of almost all Albertans--including those in the alcohol beverage industry.
All alcohol (except domestic beer) had to be purchased from suppliers, who distributed their products through Connect Logistics, which operates the old ALCB warehouse in St.
In Alberta, political culture and history were also significant factors in the Klein government's policy decision to liquidate the ALCB, as well as its decision as to how to structure the new private marketplace.
Edward Rimmer, UK and Ireland chief executive of Bibby Financial Services, added: "We are delighted to be involved in this arrangement as ALCB is recognised as a growing force in business banking.
It is excellent news for us because ALCB has recognised thatwe deliver the very best levels of service in our industry as demonstrated by our speed, flexibility and personal touch.
These ALCB remittances account for over 50 per cent of the commercial revenue generated by the province.
When pressed, the government fell back on the classic free-market defense that "privatization will generate new jobs" and "the private sector will be able to absorb displaced ALCB workers.
To assess this claim, we randomly surveyed 50 former ALCB workers in the Calgary area.
Our calculations and the recently released financial statements indicate that a significant number of ALCB properties were sold for much less than they cost to build or acquire.
Additional information was complemented by the analysis of specimens deposited in the following herbaria: ALCB
, HRB and HUEFS (acronyms according to Thiers (2016) continuously updated).