Belarus has no intention of selling a controlling stake in Belaruskali fertilizer firm, a key source of budget revenues for the state, Belarusian President Alexander Lukashenko said on Tuesday.
“I can’t afford to allow [the sale] of a controlling share package, so as not to lose control of the enterprise,” Lukashenko said during a visit to Belaruskali.
“If you [investors] want, we’ll sell not a controlling stake but 10-20-25 percent, for example. You are welcome,” he said, adding a 25 percent stake in Belaruskali was worth $8.5-9 billion.
Last year, leading Russian fertilizer producer Uralkali wanted to buy Belaruskali for $14 billion, but the Belarusian government set the price at $30 billion and the deal fell apart.
Lukashenko claims the Belarusian fertilizer asset was worth at least $30-32 billion, according to international estimates.
“There is no way possible to sell it at a lower price. I was not going, and I’m not planning to sell Belaruskali for nothing,” he said.
Belarus is threatening to review its business relations with Russia-based Uralkali, a key shareholder in the Belarusian Potash Company, Lukashenko said, over concerns about division of the company's sales.
“All the issues related to Belarusian Potash Company must be resolved by September 1, even if we have to review relations with the Russians [Uralkali,” Lukashenko said.
Belarusian Potash Company is an exclusive seller on world marketsof the potash fertilizer produced by Belaruskali and Uralkali. The company’s core shareholders are Belaruskali with 45 percent, the Belarusian Railway with five percent and Uralkali with 50 percent.
The company believes sales are currently unfairly divided between the Belarusian and Russian fertilizer producers, a source in Belaruskali told RIA Novosti .
