OREANDA-NEWS. The National Agency for Investment and Privatization (NAIP) has prepared bidding documents in the framework of the tender to invite bids from potential investors willing to purchase a stake in OJSC Konfa confectionery (Molodechno, Minsk Region) and Minsk Margarine Plant, NAIP said in a release.

Agencies concerned have prepared a lowdown on both companies complete with business portfolios, detailed descriptions of property units, production process and sales markets, financial and marketing regulations, quality control and staff policies.

The information reflects a multilevel analysis conducted in conformity with international financial reporting standards.

At the moment, NAIP invites bids from potential strategic investors. After processing all applications, they will make a short list and request short-listed candidates to sign an agreement of confidentiality in order to receive a full portfolio of tender documents.

Konfa is ready to offer investors a 50.07% stake, while Minsk Margarine Plant offers a 93.8% stake.

As previously reported, the National Agency for Investment and Privatization (NAIP) in association with a team of financial advisors (Ernst & Young, Aleinikov & Partners Law Firm) completed preparations for attracting strategic investors to OJSC Konfa confectionery and Minsk Margarine Plant.

Both Konfa and Minsk Margarine Plant are involved in the pilot privatization project.

The press-release sets basic minimum requirements for potential investors: a three-year experience in asset management in the food industry; the investor’s average annual turnover should be over USD 20 million (for margarine bidders), or over Br7 million (for Konfa bidders).

The closing date for applications in April 8, 2013.

In June 2013 potential investors will have to submit investment offers. After a thorough analysis, an interdepartmental commission will choose bids, which are best for Konfa and Minsk Margarine Plant.

Belarus’ National Agency for Investment and Privatization is busy implementing a pilot project in association with the World Bank to attract strategic investors for eight enterprises, including Minsk Margarine Plant and Konfa.

Established in 1951, Minsk Margarine Plant was converted into a joint stock company in 1993. The company produces over 80 titles of margarine, mayonnaise and vegetable oil.

Established in 1954, Konfa confectionery manufactures spice cakes, biscuits, waffles, marshmallow, other confectionery goods.