Blocks of shares of 3 Vitebsk companies to be sold by auction in 2008

Till the end of 2008, the blocks of shares of the three Vitebsk-based companies which were reorganized into open joint-stock societies will be sold by auction, Pavel Kotikov, the deputy director of the Vitebsk territorial fund Vitebskoblimuschestvo, told BelTA commenting upon the approved plan of privatization for the period till 2010. The blocks of shares of OAO Vitebsky Khoztorg, OAO Vitebskoblagropromtrans and Lepelpromshveimebel are expected to be sold by auction. According to Vitebsk oblast’s plan of privatization for the period till 2010, 18 companies are expected to be reorganized into open joint-stock societies by 2010. The list includes mainly the companies of the housing and utilities infrastructure, trading companies and the local industrial companies which employ from 30 to 300 people. In 2009, four companies are expected to be reorganized into open joint-stock societies including the specialized maintenance and construction company “Medik”. By 2010, 14 companies more will be privatized. These are the design company “Institute Vitebskgrazhdanproject”, the design and construction company “Vitebskoblremstroi” and its 10 subsidiary companies. The method of privatization will be identified after consultation with the labour collectives. The proposals of the investors, which are expected to take part in privatization, will be taken into consideration as well. The plan of reorganization of Vitebsk oblast’s companies of the communal property into open joint-stock societies and the plan of sale of shares of open joint-stock societies was developed in line with Decree No7 of April 14, 2008.

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