Treuhandanstalt

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The Treuhandanstalt (German: [ˈtʁɔɪ̯hantˌʔanʃtalt] ^ⓘ, "Trust agency"), colloquially referred to as Treuhand, was an agency established by the government of the German Democratic Republic to reprivatise/privatise East German enterprises, Volkseigene Betriebe (VEBs), prior to German reunification. Created by the Volkskammer on 17 June 1990, it oversaw the restructure and sale of about 8,500 state-owned companies with over four million employees. At that time, it was the world's largest industrial enterprise, controlling everything from steel works to the Babelsberg Studios.^{[citation needed][1]}