12.06.2012
The National Agency of Investment and Privatisation (NAIP) has officially requested technical and financial offers of the applicants wishing to render financial consulting services during the search for strategic investors for Minsk Margarine Factory and Konfa Confectionery Factory. The request includes the terms under which the NAIPA is ready to employ a financial consultant.
The requests have been sent to the companies in the short-list of applicants: Admiralty International (USA), Ernst & Young (Belarus), Gryphon Emerging Markets Limited (United Kingdom), Marlagne Capital Advisors (Belgium), Uniter Investment Company (Belarus), Zabolis Partners (Lithuania).
On 6 July 2012 at the latest they should send their offers to the NAIPA where they would be evaluated in accordance with the World Bank's rules. In the first place, attention will be paid to the qualification and experience of the financial consultant's team, quality of the action plan to privatise the enterprises as well as the costs of the services offered.
It is expected that in September of this year the winner of the selection would start rendering consultation services including development of the privatisation strategy, preparation of the enterprises for sale, NAIPA's assistance in holding shares tradings etc. It is expected that these tasks could be completed until the end of the year.
Minsk Margarine Factory OJSC and Konfa are among the eight enterprises participating in the pilot privatisation project being implemented by the NAIPA pursuant to Decree of the President No. 273 dd.of 25 May 2010 with the assistance of the World Bank. In the near future technical and financial offers concerning privatisation of the other enterprises participating in the project will be requested.
The advanced global practice followed by the NAIPA in its operation supposes involvement of financial consultants (authoritative investment banks or consulting firms) in the privatisation process. This expands the opportunities to search for a strategic investor able to guarantee investment into the enterprise being privatised, introduction of new technologies, and a modern management system. Another important task resolved by involvement of an international financial consultant is increase of income from the sale of the governmental property.