Updated at 19:56,22-01-2021

Oligarch Chizh is buying Krynica?


A month ago Yuri Chizh, "The purse" of Lukashenko, offered the authorities to sell the brewery "Krynica" to him.

According to the information of "Zautra tvoej strani", the decision to transfer the controlling stake of the factory to the owner of Triple is going through the last stages of approval.

The source in the authorities neither confirmed, nor disproved the interest of the oligarch in one of the biggest Belarusian brewery factories. "You will know soon enough", intrigued he.

Why the state hurries up to give Krynica away?

The experts of Zautra tvoej strani believe that the reason that forced the Belarusian authorities to sell the factory to the private investor could become last year’s results of Krynica.

According to the results of 2011, the biggest producer of beer on the Belarusian market, which Krynica was from 1976, for the first time gave this place to Heineken group. In 2011 the market share of two Heineken factories in Bobruisk and Rechitsa amounted to 23% in the domestic market. Meanwhile the market share of Krynica was only 22.2% (comparing to 40% in 2006).

Comparing to 2010, when its profit amounted to 5.7 billion Rubles, Krynica resulted in 1.6 billion Rubles lost in 2011.

In the current year Heineken group still holds the leadership in supplying the domestic market. In January-May only the Bobruisk factory have sold 45 million liters of beer. “Krynica” have sold only 41 million on the domestic market and 17 million abroad.

The price will be much lower than 2-3 years ago

The conditions of possible sale of“Krynica to the most influential Belarusian businessmen, Yuri Chizh, are not known. One must assume that the local oligarch made more profitable offer than Turkish company Efes Breweries. Last year the Turks presented offer at a price and a strategy of prospective development of the factory to the

Belarusian government but were refused. The authorities weren’t satisfied with the price the 15th world’s largest beer producer was ready to offer.

At the same time, the experts note that today’s price of the brewery factory will be much lower than 2-3 years ago.

How many times did the authorities sell Krynica?

The Epopee with privatization of“Krynica is a lasting story full of events.

In 2001 the authorities sold the controlling stake of the factory to the Russian company Baltica only in order to cancel their decision after some time. Baltica had to appeal to international courts to return about 11 million dollars invested into the factory.

In 2003 the factory was transferred under the trustee control of Priorbank for five years. This was some kind of payment of Austrian group Raiffeisen for entering the Belarusian market. Besides, one needed to get money from somewhere in order to pay for the equipment installed by Baltica.

After the agreement with Priorbank expired, there were attempts to attract the SABMiller Company as an investor. The main mediator of the deal and a partner of the world concern supposed to be Belarusian oligarch Vladimir Peftiev. But SABMileer and Peftiev didn’t risk, and organizers of the tender didn’t choose anyone from another three candidates for the position of the control manager of Krynica. The tender ended without naming a winner.