Anti-monopoly service okays Svyazinvestneftekhim purchase of Tatspirtprom
MOSCOW. Aug 7 (Interfax) - The first potential buyer of all the stock in OJSC Tatspirtprom has appeared and it is Kazan-based OJSC Svyazinvestneftekhim, which has been green-lighted for the buy by Russia's Federal Anti-monopoly Service (FAS), a FAS press release says.
Svyazinvestneftekhim is engaged in consultations over issues of commercial activity and management, the FAS said.
The government of Tatarstan put into its projected 2013 plan for state property privatization 100% of the stock in OJSC Tatspirtprom, a Russian alcohol market leader, last week.
Tatspirtprom's press service has said that its output in monetary terms was up 31% year-on-year in constant prices in the first half. Sales revenues to Russian Accounting Standards were up 50% at 2.933 billion rubles and net profits 7.8% at 207 million rubles.
In H1, Tatspirtprom increased alcohol product output 37% to 41.47 million liters, topping its production plan by 8%.
Sales volume was 39.2 million liters, up 37%. Sales in Russia outside of Tatarstan increased 2.6-fold to 24.45 million liters, of which its own brands accounted for 4.78 million liters, up 38%. The company exported 148,000 liters, up 3%.
Tatspirtprom's alcohol plants produced 11.76 million liters of grain alcohol in the first half, about the same as they did in the same period last year.
The company is owned lock, stock and barrel by Tatarstan's Land and Property Relations Ministry. It has three alcohol, four liquor plants and a winery in Kazan.
