The National Agency of Investment and Privatization invites domestic and foreign companies to take part in strategic investors’ selection procedure for the following companies:
• Minsk Margarine Plant OJSC, specializing in the production of margarine, mayonnaise and vegetable oil (93.8% state stake);
• Konfa OJSC, specializing in the production of spice cakes, biscuits, marsh mallows and other confectionary products (50,07% state stake).
Yesterday a number of international and local business media has released the announcement.
As a result of expression of interest process strategic investors will be selected with following awarding of the Share Sale and Purchase Agreement including investment and social commitments.
The strategy for attraction of strategic investors for Minsk Margarine Plant OJSC and Konfa OJSC is based on the results of comprehensive due diligence analysis undertaken with the assistance of Financial Advisor – the consortium of companies headed by Ernst & Young FLLC. This strategy is proved by the Steering Committee. On the Committee are seniors from the Ministry of Economy, the Belarusian State Concern of Food Industry, local executives and the directors of mentioned enterprises.
Private companies with three and more years of operation or asset management experience in the food industry (production and/or distribution) are encouraged to participate in the strategic investors’ selection procedure. Herewith average annual turnover for the past three years of the applicants should exceed USD 20 million for investors interested in Minsk Margarine Plant OJSC and USD 7 million for investors interested in Konfa OJSC.
To be eligible for participation in the strategic investors’ selection procedure the interested companies should submit Expressions of interest to the Agency no later than April 08, 2013 according to the set form.
After that and before the 22d of April, 2013 the Evaluation Committee will shortlist potential investors. In May, 2013 shortlisted candidates will be provided with all detailed documents on the companies’ operations, management presentations and site visits will be organized.
In June 2013 potential strategic investors should perform final investment offers among which the best one will be selected by the Evaluation Committee .
For more detailed information follow the link.
For reference:
The Pilot Project for attracting strategic investors for state-owned enterprises is undertaken by the National Agency of Investment and Privatization with World Bank assistance and aimed to imply the best world practice. This project involves Financial Advisor participation with significant successful work in other countries.