MINSK, 30 April (BelTA) – As many as 11 potential investors have been shortlisted for two Belarusian food industry companies — OAO Minsk Margarine Plant and OAO Konfa, representatives of the National Agency of Investment and Privatization told BelTA.
The potential investors eyeing Minsk Margarine Plant include eight companies from Russia, Ukraine, Lithuania, Poland, Norway, Malaysia, and Belarus. Three companies from Belarus, Lithuania, and Norway are interested in Konfa. BelTA has been told that the shortlisted investors, which are interested in buying state shares in these companies, meet the previously specified requirements.
OAO Konfa has attracted potential investors, which make bakery and confectionery products and have their own distribution chains. The investors include companies with the average annual turnover of over $10 million and the track record of over 12 years.
As far as OAO Minsk Margarine Plant is concerned, top food industry companies will compete for the right to buy the state shares. The potential investors include companies with the average annual turnover of $25-42 million and groups of companies with the average annual turnover ranging from $150 million to $8 billion. Some of the companies boast a track record of 35 years.
Confidentiality agreements are being signed with each potential investor. Later on they will get all the tender documents as well as detailed information about the companies.
The pilot project to attract strategic investors for the state-run enterprises is being implemented by the National Agency of Investment and Privatization with assistance of the World Bank and is designed to introduce cutting-edge international practices in Belarus. A consortium of companies OOO Ernst & Young, SOOO Ernst & Young Legal Services and the law firm Aleynikov and Partners is the financial advisor retained by the National Agency of Investment and Privatization of Belarus for the project.
The public joint-stock company OAO Minsk Margarine Plant specializes in manufacturing margarine, mayonnaise, and vegetable oil. The state owns 93.8% of the shares. The Molodechno-based public joint-stock company OAO Konfa specializes in gingerbread, cookies, marshmallows and other confectionery products. The state owns 50.07% of the shares.
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