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Syamashka told about sale of Grodno-Azot and MZKT

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Syamashka told about sale of Grodno-Azot and MZKT

Belarus is ready just for minimal concessions to buyers.

Uladzimir Syamashka reminded that on July 29 a selection of investors for privatization of the state-owned shares of Grodno- Azot on a competition basis didn’t took place as there had been no participation applications, BelTA informs. “Now the sale will be discussed during direct talks. Next week I am meeting with one of the potential partners,” the First Vice Premier said.

He stated that despite the absence of a boom, the state does not plan to cut down the price for the equity shake. A game is conducted by contenders to cut down the price, but the game to cut down the price and change the rules of the contest is unpromising, the First Vice Premier said. “We say that there is a technical task for modernization of Grodno Azot, and we would not bate an inch. Well, maybe half an inch, to find a compromise.”

MZKT – Minsk plant of wheel-tyre tractors, is ready for sale as well. The evaluation of assets is finished. However, Russian investors do not rush to buy what they have been proposed. As said by the Vice Premiere, there are still some disagreements with the Russian partner.

An agreement to sell an equity stake of MZKT to a Russian investor was reached in the end of 2013. Then OAO “RT-Auto” was named (an affiliated company of Rostekhnologii corporation). In addition, it was announced that the Russian investor was to buy a package of MZKT (75% minus 1 share) following the results of additional emission, proceeding from the market price of the shares. It had been planned to send the money of the investor to modernization and technical re-equipment. However, the investor has chosen not to buy the Belarusian plant.

A similar story happened to the project implemented with participation of “Integral”, which is a part of the five integration projects, Syamashka said.

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