Belarus remains in talks on sale of minority Belaruskali stake

29 November 2012 17:58  [Source: ICIS news]

LONDON (ICIS)--The Belarusian government remains in talks with investors from around the world regarding the potential sale of a minority stake in Belaruskali, one of the world's largest potash producers, the Belarusian Council of Ministers said on Thursday.

Interested parties from India, China, the Middle East and Europe were discussing the terms for the possible purchase of 10-15% stake in the state-owned producer, it added.

The cost of the stake would be proportionate to Belarus' overall $30bn-$32bn (€23.1bn-€24.6bn) valuation of Belaruskali, the council said. The company is responsible for the production of approximately 15% of the potash consumed worldwide.

Belarus last year rebuffed an approach from Russian potash manufacturer Uralkali, which offered to pay around $15bn for the whole of Belaruskali.

In July, Russian Prime Minister Dmitry Medvedev said the time had come for Belaruskali's privatisation, but he questioned Belarus' high valuation of the company.

Belaruskali and Uralkali have since 2005 together owned and operated a joint-venture trading arm, the Belarusian Potash Company (BPC).

BPC accounts for 43% of potash exports on the global market, according to the company's figures.

($1 = €0.77)

By: Will Conroy
+44 20 8652 3214

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