Minsk Office of Estonian-Belarusian Joint Venture Up For Sale Over Debts

They want to get almost 1.7 million rubles.

In the Victoria Plaza business center on Platonova Street, an office space belonging to the European Agricultural Agency (EAA) LLC has been put up for sale. As indicated on the BelYurObespechenie website, they want to get more than 1.7 million rubles ($519,000) for it.

The total area of the office is over 600 square meters. The auction will take place on February 20. At the same time, an auxiliary room of about 68 square meters belonging to the same company is being sold, which costs about 200,000 ($61,000) rubles.

EAA is a joint venture that was created by the Estonian company European Agricultural Agency OU and Belaruskali-Agro LLC. Belarusians owned 45%. Before the introduction of sanctions, the joint venture was the official dealer in Belarus of many large manufacturers of agricultural machinery.

However, after the introduction of bans on equipment supplies, the company began to have problems. In 2023, EAA's revenue decreased from 34.1 million to 29.7 million rubles, and the company incurred a loss of 2.2 million, and also defaulted on bonds in the amount of $370,000. As a result, the Belarusian participant in the joint venture decided to sell its stake in it, which was valued at just under 5.5 million rubles in August 2024.

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