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First financial adviser for pilot privatization project is defined

Privatization
10:53 | 21.11.2012 | Business-News
This information was announced by the National Agency of Investment and Privatization. On November 16, 2012, under the VII Belarusian Investment Forum held in Minsk, the Ministry of Economy, the National Agency of Investment and Privatization and the consortium of companies Ernst & Young FLLC, Ernst & Young Legal Services JV JSC and Argument legal unit signed an agreement on providing services on strategic investors attraction to Minsk Margarine Plant PLC иand Konfa confectionary .

As per contract, Ernst & Young foreign experts from its Russian, Ukrainian, Polish, Lithuanian and Latvian offices will work within this consortium.

 

Davron Rustamkulov, the Ernst and Young CIS B.V partner who has huge work experience under the corresponding projects in Kazakhstan, Tajikistan and Azerbaijan will be the Head of consortium experts team.

 

The financial adviser work will include two stages, according to the agreement.

 

Experts will collect information of enterprises and will analyze it under the first (preparatory) stage. The analysis includes investment risks assessment, independent evaluation of the Government stake in accordance  with international standards, due diligence of joint stock companies, their status at the market and also the development of some strategies of investor’s attraction including strategy of social assets management.

 

Financial advisor’s duties will include organization of large-scale marketing campaign, aimed at ensuring an offer of the fully complete information of all potential strategic investor in Belarus and abroad under the second stage (implementing). Financial advisor will enter into commitments on organization and holding talks with strategic investor before a deal is closed and a corresponding shares purchase and sale agreement will be signed, according to the NAIP.

 

The conclusion of a deal on both enterprises shares purchase and sale is planned to be held in Q1 2013, the press release of the  National Agency of Investment and Privatization  is adjusting.

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