Updated at 14:52,24-02-2021

Minsk proposes that dairy companies in Belarus, Russia exchange shares on parity basis


Minsk has proposed that dairy companies in Belarus and Russia should exchange shares on a parity basis, Agriculture Minister Syamyon Shapira told reporters on Wednesday.

A preliminary agreement on the exchange of shares has already been reached with Russia’s St. Petersburg-based Detskoselsky Concern, the minister said. "We’ve offered 50 percent in a Belarusian dairy plant to the Russians in exchange for 50 percent in Detskoselsky Concern," he said. A similar proposal has been sent to ZAO Molvest, a Voronezh-based company, he noted. "This is a normal process," he added.

Belarus is interested in foreign investment in the domestic milk-processing industry, the minister said. "We are open for the coming of investors who would be ready to put money into milk-processing enterprises and get ownership of a certain share in them," he said.