MINSK - A repeated auction to sell Brestskoye Pivo brewery as a single property unit is due in Brest on Sep 15, 2017, with the initial price set at Br9.345m ($4.793m), the brewing company’s Crisis Manager Sergey Telpuk told Prime-TASS.
The auctions scheduled for Apr 4, May 16, Jun 15, Jul 14 and Aug 15 did not take place due to the absence of bids.
Brestskoye Pivo brewery is a state-owned company (state-owned stake 89.73%), produces beer, wine, mineral water, soft beverages.
Brest Region Administration made several attempts to sell Brestskoye Pivo brewery in 2015-2016, but received no bids.
While preparing for the next auction, the brewery will conduct negotiations with a potential investor. If they agree to sell the brewery as a single parcel, the Sep 15 auction will not be held, Telpuk informed.
Brestskoye Pivo brewery’s total debt to banks and other liabilities currently stands at Br11.244 million ($5.723m). If the company is sold as a single parcel, the entire debt will be settled.
Established in 1967, OAO Brestskoye Pivo produces beer, soft beverages and low-alcohol drinks, wine and mineral water.