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Official comments on possibility of selling stake in Belarus’ potash giant

The Belarusian government will hold a 100-percent stake in Belaruskali after the potash giant is transformed into a stock corporation, Uladzimir Kavalewski, deputy director of the State Property Fund, told reporters in Minsk on Wednesday, as quoted by BelaPAN.

No shares will be offered to Belaruskali employees or exchanged for privatization vouchers, Mr. Kavalewski noted. “We’ll accumulate a 100-percent stake so that it will be possible to offer a stake to an investor on rather attractive conditions,” he said.

“At the current stage, it is premature to talk about the size of the stake to be offered to an investor and its price,” he noted. These issues will be under consideration during direct negotiations with a potential investor or during a bidding contest if a decision is made to select a buyer on a competition basis, he said.

“Belaruskali is a significant asset that calls for a through and comprehensive approach,” he said. “If a stake is to be offered for sale, its size will be considered comprehensively and with due regard for the interests of the state.”

According to Mr. Kavalewski, the procedure of converting Belaruskali into a stock corporation is near completion. “The only thing left to do is issue directives by the sectoral commission and the privatization commission and an order formalizing its transformation into a stock corporation,” he said.