BELARUS NEWS AND ANALYSIS

DATE:

12/11/2008

First stage of privatization in Belarus to involve large investors

At the first stage of the privatization in Belarus the shares of open joint stock companies set up in 2008-2010 will be sold to large strategic investors, Irina Barkovskaya, head of the state property reformation department of the state property fund under the State Property Committee, told BelTA while commenting on Decree No 605 "On some issues of the privatization of national unitary companies".

The document contains a list of national unitary companies which state shares are not to be sold on preferential terms or traded for Imuschestvo privatization vouchers when they are transformed into open joint stock companies.

According to Irina Barkovskaya, the decree is to help reach two goals: to attract large investors to the Belarusian industry and provide state support to the companies at the first stage of the transformation.

Irina Barkovskaya explained that the companies would not sell their shares or exchange them for vouchers but to a large investor. "That will prevent the shares from being distributed among small stockholders. We have faced such problems earlier when the shares were repurchased from small stockholders in order to acquire a controlling stake," the specialist said.

The list of the national unitary companies which state shares are not to be sold on preferential terms or traded for Imuschestvo privatization vouchers when they are transformed into open joint stock companies was prepared in line with governmental resolution No 1021 of July 14, 2008 that adopted the 2008-2010 privatization plan.

The list of the national unitary companies which state shares are not to be sold on preferential terms or traded for Imuschestvo privatization vouchers when they are transformed into open joint stock companies included over 150 companies, of them 92 industrial enterprises. Among others are agricultural, energy and trade companies.

Source:

http://capital.trend.az/?show=news&newsid=1343409&catid=583&subcatid=540&lang=EN

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