OREANDA-NEWS. September 28, 2011. The auction to sell the state stake in OJSC Lida concentrated foods, due October 6, 2011, has been cancelled, the State Property Management Committee said in a release.

The first tender, held in July, had only one bidder, and could not be considered valid.

A representative in the property committee told reporters that formally, one of the two bidders did not attend the tender, however, previously, Georgy Kuznetsov, chairman of the State Property Committee of Belarus told reporters that heads of several state-run enterprises of Belarus were trying to derail privatization. “There are very many people opposing privatization in Belarus, primarily, directors of enterprises. They are supported by top executives in ministries and government agencies,” Kuznetsov said. He mentioned Lida concentrated foods then.

The Committee originally had put up for sale 80.6%, or 816,970 shares, in OJSC Lida concentrated foods, in the Grodno Region. The initial price stood at 11.961 billion rubles. Par value was 11,000 rubles. The investor was expected to contribute to the company 9 billion rubles within 36 months of the purchase at 1%.