OREANDA-NEWS. KPMG in Belarus and KPMG Tanacsado Kft. (Republic of Hungary), in a consortium with Stepanovski, Papakul and Partners (Republic of Belarus), and the Law Offices of Raidla Lejins & Norcous (Republic of Lithuania), announce the commencement of works as Financial Advisor in the Pilot Project of Privatization in Belarus.

On 20 December 2013 the contract was signed with the Ministry of Economy of the Republic of Belarus and the National Agency of Investment and Privatisation for Consultant's Services on Attracting Strategic Investors to four Belarusian companies: OJSC “Baranovichi Reinforced Concrete Products Pant”, OJSC “Belsantekhmontazh-2”, OJSC “Construction and Mounting Trust № 8”, OJSC “Avtomagistral”, which were selected for the Privatisation Project being implemented by the Government with support from the World Bank.

The first stage of the project includes financial, operational and legal due diligence of the companies, analysis of investment risks, independent valuation of the stakes in compliance with international methodology and national standards, and development of strategies for attracting investors. At a later stage an active marketing campaign will be implemented and the enterprises will be presented to potential investors.

The aim of the project is to agree and sign contracts with strategic investors, which should be completed by the end of 2014.

KPMG in Belarus' Director, Irina Vereschagina, says, “This project is unique to our country as typically financial advisers are engaged by potential investors. This project, however, will comprise the joint efforts of advisors, lawyers, and appraisers on the government side”.

“We hope that the local and international experience and well-coordinated work of our team, in close collaboration with the National Agency of Investment and Privatisation and, of course, the companies' management, will facilitate the success of the project,” she added.

KPMG is one of the largest professional services companies in the world and one of the Big Four auditors, along with Deloitte, Ernst & Young (EY) and Pricewaterhouse Cooper. Its global headquarters is located in Amstelveen, the Netherlands.