/ / News
17.04.2013

Investors welcome for Minsk Margarine Plant, Konfa till 19 April

MINSK, 17 April (BelTA) – The National Agency of Investment and Privatization of Belarus has postponed the deadline for accepting applications from potential strategic investors, who are interested in buying the state-owned shares of OAO Minsk Margarine Plant and OAO Konfa, till 19 April, representatives of the Agency told BelTA.

By now the Agency has received official applications from Belarusian and foreign companies, which are willing to become strategic investors for these two enterprises. Due to confidentiality reasons their names cannot be disclosed, said the source.

Meanwhile, some potential investors have asked to postpone the deadline for submitting applications because they need more time than expected to prepare the necessary documents. By the end of April 2013 an interagency commission will shortlist the strategic investors for the two enterprises, which are taking part in a pilot privatization project.

The pilot project to attract strategic investors for 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. The project provides for inviting a financial advisor with considerable experience of effective work in other countries.

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.