Russian company buys 100% shares of Belarusian workwear maker

VITEBSK, 26 December (BelTA) – A Russian investor is now the owner of the open joint-stock company Lepelpromshveimebel and intends to pour about $120,000 into the Belarusian enterprise within the next two years, BelTA learned from Vitaly Dmitriyev, Deputy Chairman of the Lepel District Executive Committee. The Lepel District Executive Committee has sold a total of 238,820 shares to the Russian company for Br3.05 billion. The authorized fund of the Belarusian enterprise slightly exceeds Br1 billion, with the price per share at Br4,200. As part of the deal the Russian company undertook to keep the business specialization of the Belarusian enterprise intact, to create at least 100 jobs and to invest at least $100,000 in the development of the enterprise. According to the source, Lepelpromshveimebel will remain focused on manufacturing workwear clothing. At present the accounts payable by the enterprise are about Br2 billion. By acquiring the enterprise the investor undertook to pay the debts. Since the beginning of the year a total of 15 unused properties owned by the district administration have been sold in Lepel District, earning about Br600 million for the district budget. Auctions to sell four more properties will be held by the end of the year.

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