The deal between I. Udovicki and “Belaruskalij” for 30% BKT stock is shrouded in fog

The deal between I. Udovicki and “Belaruskalij” for 30% BKT stock is shrouded in fog
The deal between I. Udovicki and “Belaruskalij” for 30% BKT stock is shrouded in fog

Igor Udovickis, the largest shareholder of the Bulk Cargo Terminal (BKT), which loaded the fertilizers of Belaruskalij, a Belarusian fertilizer manufacturer constrained by Western sanctions, in the port of Klaipėda until February of this year, does not reveal whether he purchased 30 percent from Belaruskalij. of the BKT shares controlled by him and thus became the sole owner of the company.

“All necessary permits have been obtained. I do not comment on the details of the transaction”, I. Udovickis said to BNS, when he was asked when he intends to complete or has already completed the transaction.

The permission for the transaction has been granted not only by the Competition Council, but also by the governmental Commission for the Coordination of Objects Important for Ensuring National Security. The latter rejected I. Udovicki’s appeal for 30 percent. BKT considered the acquisition of shares as early as August 2021.

“According to the requirements of the Law on the Protection of Objects Important for Ensuring National Security, no obstacles to the execution of this transaction were identified,” the Government’s press service reported to BNS.

The Competition Council granted permission for the transaction on September 23 this year.

BKT has not yet submitted information about the change of shareholders to the Registry Center. There are no new records about this in the registers of Switzerland and Latvia either.

“Belaruskalij” BNS also did not answer the question of whether the deal was completed. Belarusian company 30 percent. BKT shares for 30 million. US dollars purchased in the spring of 2013.

It was previously announced that I. Udovickis directly controls 5%. BKT shares, and 65 percent. – indirectly, through the Swiss company “Hasenberg”, 100% of which shares belong to Fortis Asset Management of Latvia controlled by I. Udovickis.

Approximately 11 million tons of “Belaruskalij” production on ships in recent years, BKT stopped this activity in February this year due to European Union and US sanctions and the decision of the Lithuanian Government that the contract between “Belaruskalij” and “Lietuvos geležinkelių” poses a threat to the country’s national security.

BKT’s quays have been empty since February 10, the company then announced that it would lay off all 142 employees by the end of May, but according to “Sodros” data, the company now employs 40 people.

I. Udovickis previously told BNS that after buying out the shares, he hopes to reload about 10 million by the fall of next year. tons of Ukrainian grain. According to him, BKT offered Ukraine to load about 1 million tons of grain per month.

Now I. Udovickis says that Ukrainian grain could be transported through Lithuania only after resumption of transit through Belarus.

Large volumes of Ukrainian grain are available in Lithuania only after resumption of transit through Belarus.

“Ukrainian grain in large quantities is available in Lithuania only after the renewal of transit through Belarus,” the businessman told BNS.

He also confirmed that the terminal is currently loading some cargo.

Algis Latakas, the head of the Klaipėda Seaport Authority, says that BKT loads a small number of bulk cargoes, but he did not reveal which ones.

“Today, the terminal looks ahead positively, is optimistic and sees the prospect of loading, in fact, the terminal is loading a little now. Those quantities, compared to what they loaded – 11 million – of course, after stopping the loading of potash fertilizers, those numbers are very small,” A. Latakas told BNS.

“The terminal is preparing and, I would say, is ready to receive today not only fertilizers, but also food products, bulk products, everything is ready,” he added.

According to A. Latak, BKT is a new and technologically very modern terminal, with large storage and handling capacities.

“I would think that today’s terminal, if it were somehow possible to make a smooth, stable, durable “solidarity line” between the European Union and Ukraine, a solidarity corridor, this terminal would play a very important role, it would be possible to transship a huge amount of Ukrainian grain through it,” explained Klaipėda Port manager.

I believe in them, they believe in themselves and no spears are stacked.

“I believe in them, they believe in themselves and no spears are stacked,” said A. Latakas.

BKT announces that its terminal is the largest of its kind in the entire Baltic region, it can handle up to 16 million tons per year. tons of bulk cargo. Last year, the terminal handled 11.5 million volumes of bulk fertilizers – 15 percent. more than in the 2020s.

The terminal’s income last year reached 95 million. EUR – 5 percent. more than in 2020, he earned 16.1 million. EUR profit, or 1.2 percent. more. For 2021, BKT paid out 4.7 million. EUR dividends.

The article is in Lithuanian

Tags: deal Udovicki Belaruskalij BKT stock shrouded fog

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