A strategic investor for Minsk Margarine Plant will be chosen within one week, representatives of the National Agency of Investment and Privatization of Belarus told BelTA. The day before the evaluation committee started reviewing the proposals that had been submitted.

On 8 August the interagency evaluation committee unsealed the envelopes with the final investment applications submitted by shortlisted potential investors regarding OAO Minsk Margarine Plant, said the source.

The applications contain proposals to buy a package of shares and an investment plan to develop the company. Now the evaluation committee is reviewing applications submitted by two potential investors – major food industry companies from Lithuania and Russia. The best application will be announced within one week. The committee will take into account the price offered for the package of shares, declared investment volumes, and the fulfillment of obligations to the personnel of Belarusian companies.

The potential investors for Minsk Margarine Plant were shortlisted by an interagency commission on 26 April. The list included eight companies from Russia, Ukraine, Lithuania, Poland, Norway, Malaysia, and Belarus. The potential investors included companies with the average annual turnover of $25-42 million and groups of companies with the average annual turnover ranging from $150 million to $8 billion. Some of the companies boast a track record of 35 years.

BelTA reported earlier that the National Agency of Investment and Privatization of Belarus seeks strategic investors interested in buying the state-owned package of shares (93.8%) in OAO Minsk Margarine Plant. Strategic investors were welcome to submit applications regarding the company till 2 August.

The pilot project to attract strategic investors for eight 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. A consortium of companies OOO Ernst & Young, SOOO Ernst & Young Legal Services and the law firm Aleynikov and Partners is the financial advisor retained by the National Agency of Investment and Privatization of Belarus for the project.

The public joint-stock company OAO Minsk Margarine Plant specializes in manufacturing margarine, mayonnaise, and vegetable oil.