The Contract to Consultants’ Services for attracting a strategic investor for OJSC “Medplast” and OJSC “Belgazstroy” was signed by the Ministry of Economy and the National Agency of Investment and Privatization as well as by the consortium of companies composed of Mattig Management Partners GmbH (Austria), CJSC “Alfa-Bank” (Belarus) and Egorov Puginsky Afanasiev & Partners (Minsk office).
The consultant was selected as per results of an open tender in accordance with the procedures of the World Bank. Initially more than 30 applicants participated in the tender, including large consulting companies, investment banks and law firms from Great Britain, Germany, USA, Austria, the Baltics and other countries (see here). The valuation committee included the representatives of the Ministry of Economy, Ministry of Finance, State Committee on Property of theRepublic ofBelarus as well as officials of the National Agency of Investment and Privatization. During the selection of the consultant such criteria as experience in implementation of the respective deals, experience and qualification of staff engaged in the project and other factors were taken into consideration.
In accordance with the Сontract the consultant shall carry out legal, financial and operational due diligence and analysis of investment risks on the basis of which fair view of the activity of joint-stock companies shall be formed, the cost of state-owned shareholding in accordance with international and national standards shall be determined; the consultant shall develop the strategy for attracting investors and carry out marketing campaign for attracting all potential investors in the Republic of Belarus and abroad. The consultant shall also assist in arranging and conducting negotiations with the strategic investor. Attracting of investors for OJSC “Medplast” and OJSC “Belgazstroy” is planned to be carried out until the end of the year.
Dr. Peter Gumpel – the chief advisor of Mattig Management Partners, an expert with extensive professional experience in the area of privatization deals and consulting services for state agencies and organizations shall take the lead of the consortium. Under his control privatization of enterprises in various industries inBulgaria,Macedonia,Moldova,Romania,Serbia,Slovakia,Ukraine,Montenegrowas carried out. Deputy team leader responsible for the financial part of the project shall be Sergey Muhanov, manager of the investment group of Alfa-Bank (Belarus), the legal part shall be supervised by Dennis Turovets, Managing Partner of Egorov, Puginsky Afanasiev &Partners (Belarus).
While commenting on the results of the tender Dennis Turovets noticed: “Minsk office of Egorov Puginsky Afanasiev & Partners participated in pilot projects carried out in the Republic of Belarus a number of times, successfully supported large-scale deals of international level which undoubtedly played its role upon selection of the tender’s winner. We are confident that professionalism, experience and knowledge of our team shall be a formula of success for the implementation of pilot privatization project in Belarus, carried out by NAIP and the World Bank. We hope that our joint efforts shall provide attraction of significant strategic investors with high reputation and shall take the companies undergoing privatization to a new level of development”.
Brief description of the companies:
OJSC “Medplast” and OJSC “Belgazstroy” are among 8 enterprises, which take part in pilot privatization project, run by NAIP with the assistance of the World Bank.
As of today OJSC “Medplast” completely meets the needs of the Republic of Belarus for single-use injection syringes with nominal volume of 2, 5, 10, 20 ml, tuberculin syringes with volume of 1 ml and insulinic syringes with volume of 100 insulinic units and also has the full cycle of production of syringes and renders services on ethylene epoxide sterilization to external organizations.
OJSC “Belgazstroy” deals with construction of gas pipelines of various diameters, supplying with gas to household objects, setup of gas supply systems, installation of utility networks, plumbing, sewage, heating, polymeric insulation of pipelines, production and installation of Proportional plus rest pipelines. OJSC “Belgazstroy” is the founder of a number of subsidiaries, which carry out activity in theRepublicofBelarusand abroad.
The companies of the winning consortium:
Egorov Puginsky Afanasiev & Partners is one of the leading law firms in CIS with offices inRussia,Ukraine,Belarus and associated offices inGreat Britain andUSA that received recognition by acknowledged international legal guides. Belarusian office participated in the largest deals in the territory of theRepublic ofBelarus and has unique expertise due to participation in pilot projects forBelarus,
Mattig Management Partners GmbH (Austria) is one of the leading international advisers in the area of trust managing, finance and auditing.
Alfa-Bank (Belarus) is part of international financial industrial Consortium Alfa-Group. Currently consortium Alfa-Group holds 98.25 % of the Bank’s shares. Alfa-Bank is one of the leading financial institutions in theRepublic ofBelarus, rendering full range of investment and banking services.