Hlybokaie: Shareholders of Milk and Tinned Products Are Forced to Donate Their Shares to State

09.12.2006.

According to the order of Aliaksandr Lukashenka, in the case Hlybokaie Combine of Milk and Tinned Products owns 100% of its shares it will receive financial support from the state. However, private shareholders don’t agree to support the unprofitable enterprise at their own expense. During the last month the combine has been sending letters to them with requests to return their shares without any financial compensation. At present 90% of the combine’s shares is owned by the state and the rest, 10% (958,5 million rubles) – by almost 2 000 private individuals. Only 300 of them work at the combine. 10 persons agreed to pass their shares to the state. Some others are ready to sell them at a minimal price – say, 50 rubles. However, the combine has no right to buy the shares: according to the presidential order the form of property to solely state one is to be changed on ‘free will’ of shareholders.

There are about 175 profitless stock companies that are proposed to become state ones. According to the statement of the deputy prime-minister Andrei Kabiakou that was distributed by his press-service, only 82 of them agreed to it.

Add commentary

Comments