MINSK, 1 September (BelTA) – The shares in the Brestskoye Pivo brewery that belonged to the Brest Oblast Executive Committee have been sold to the Bulgarian company Multigroup Trade, BelTA learned from the website of the committee.
The relevant agreement was concluded on 31 July 2020. A total of 1,911,557 shares, which is 89.7301% of the authorized capital of the brewery, was sold for Br6.6 million in installments for ten years without indexation of payments.
In line with the agreement, the new owner is set to invest at least Br25 million in the upgrading of the enterprise or in the working capital within ten years. Moreover, until 2030, the enterprise must preserve the number of employees and the average salary at no less than the level of 2019. Until 1 January 2031, the new owner has no right to change the main line of work of the enterprise. It also cannot dispose of the shares or administer them in any other way until it fulfills its obligations under the agreement.
The agreement also lays down the frequency of payments to the local budget, the period for pouring the investment in the authorized capital of Brestskoye Pivo, and the buyer's liabilities in case of a failure to fulfill its obligations in time. They include withdrawal of the Brest Oblast Executive Committee from the agreement (without refunding the buyer's expenses), after which the shares return to the committee free of charge.
The local budget has already received the first payment for the shares.
