Belarus to choose financial advisor for selling development companies

MINSK, 28 December (BelTA) – The National Agency for Investment and Privatization (NAIP) has got down to the final stage of the contest to choose a financial advisor for development companies taking part in the pilot privatization project in Belarus, BelTA learnt from the agency.

Four companies of the construction industry take part in the project, including Baranovichi Reinforced Concrete Constructions Plant, Belsantekhmontazh-2 (Minsk), Avtomagistral (Minsk), Construction and Erection Trust No. 8. Short-listed bidders were invited to submit their applications. The winner will be selected by an interagency committee in February 2013.

The invitations were sent to the following companies: Deloitte Consulting LLP (USA); KPMG LLC (Belarus); Mattig Management Partners (Austria); Pricewaterhouse Coopers UAB (Lithuania); Raiffeisen Centrobank AG (Austria); Maxwell Stamp PLC (United Kingdom).

The financial advisor will have to perform a legal, financial, and operating analysis that will be used to get a fair understanding of the operation of the Belarusian enterprises. A campaign will be launched to raise the awareness of potential investors in Belarus and abroad. The work of the financial advisor will culminate in signing a contract with a strategic investor.

A consortium of companies Ernst & Young was chosen to be the financial advisor for OAO Minsk Margarine Plant and OAO Konfa. Ernst & Young has started working with the Belarusian enterprises.

The National Agency of Investment and Privatization of Belarus is busy implementing a pilot project to attract strategic investors for eight Belarusian enterprises with assistance of the World Bank. The project involves the joint stock companies Minsk Margarine Plant, Belgazstroy, Avtomagistral (Minsk), Construction and Erection Trust No. 8, Baranovichi Reinforced Concrete Constructions Plant, Medplast (Gomel), Konfa (Molodechno), and Belsantekhmontazh-2 (Minsk).