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Belarusian Krasnoselskstroymaterialy up for grabs for $200m

Economy 15.06.2018 | 19:34
Anatoly Kalinin (center)
Anatoly Kalinin (center)

MINSK, 15 June (BelTA) – The state is ready to sell OAO Krasnoselskstroymaterialy for $200 million, BelTA learned from Deputy Prime Minister of Belarus Anatoly Kalinin on 15 June.

Asked whether the cement manufacturer was indeed offered for sale for $200 million, Anatoly Kalinin said: “We would like something close to this sum but the investor wants to pay less than that. The investor [the Irish concern CRH] is unwilling to buy the entire enterprise although we offer 100% of the shares. Negotiations are in progress. They are rather consistent. Our views are getting closer. The enterprise operates at a profit. It does not accumulate debts. It has been retooled.”

According to the deputy prime minister, the government is intent on the piecemeal privatization of enterprises and sale of assets, provided compromises are reached. “We sell assets if it is profitable for the state and if we cannot manage these enterprises properly,” noted Anatoly Kalinin. “We are ready to consider selling Gomelglass and other construction materials manufacturers.”

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