Belarusian government to acquire additional shares

Belarusian government to acquire additional shares

The Belarusian government will acquire additional stakes in three cement companies in exchange for helping them to repay loans to China’s EximBank.

The Council of Ministers has issued a directive that provides for the restructuring of overdue debts to the bank incurred by Belarussian Cement Plant, Krychawtsementnashyfer and Krasnaselskbudmateryyaly as of 1 October 2014.

The three cement producers will receive the bailout on condition that they meet their profitability of sales targets for 2015 and fulfil their obligations to Eximbank starting 2015.