OREANDA-NEWS. December 07, 2009. Belarus on December 29 will have an open tender to sell the state-owned 9.2% shareholding in Rechitsapivo brewery. The price of the entire package of 88,395 shares is 2.279 billion Belarusian rubles (Br), with the initial price per share set at 25,783 rubles, an official in Gomel region administration.The other shareholder is Heineken with a 90.8% interest in the Belarus-based brewery.

The package is being put up for sale in order to attract investment in the brewery, the official said.

The buyer must have an investment project to develop Rechitsapivo; the purchasing price per share must be above the initial price; the buyer is supposed to invest at least 1.5 million euros in production in monetary assets (a loan).

The investor is supposed to preserve the core production and develop and additional soft drink production at Rechitsapivo.

Bids are accepted until 13:00 on December 11, 2009. A 3.5 million ruble deposit is transferred by December 25, 2009. Rechitsapivo, established in 1975, was transformed into a joint Belarusian-Lithuanian venture in 2000. In May 2008, the Netherlands’ Heineken acquired 51% in the brewery, but its shareholding later increased to 90.8% after Heineken bought minority stakes.