OREANDA-NEWS. The National Agency for Investment and Privatization (NAIP) has prolonged the application term for potential investors willing to purchase a stake in OJSC Konfa confectionery (Molodechno, Minsk Region) and Minsk Margarine Plant till April 19.

The agency has already received several bids from Belarusian and foreign investors.

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.