"Belaruskali Bankrupts Its Subsidiary, Which Was Not Found Willing To Be Bought

• 23.12.2025, 20:21

The company in question is the European Agrarian Agency.

"Belaruskali initiated bankruptcy of the company "European Agrarian Agency" (EAA), because it failed to sell its controlling stake in the business. The company owns 55% of the EAA shares, but there were no buyers for them, writes the publication "Belarusians and the market".

The court of Minsk, having considered the application, recognized that there were sufficient grounds to initiate bankruptcy proceedings, and introduced a protective period for the company.

The goal of Belaruskali is to achieve the return of more than Br220 thousand of debt, as well as compensation of about Br2.4 million of losses.

EAA was established as a joint venture of Belaruskali Agro and the Estonian company European Agricultural Agency, controlled by Belarusian businessman Alexander Bogachenko. The company was engaged in the sale of agricultural machinery in Belarus and other post-Soviet countries. Bogachenko himself is also the owner of the agrarian media portal AgroNews.

In 2024, the EAA defaulted on its bonds, and later the Ministry of Finance of Belarus suspended their circulation. At the end of the same year, Belaruskali Agro tried to sell its stake in the company, but was unsuccessful.

The bankruptcy trial is scheduled for mid-January 2026. Meanwhile, Alexander Bogachenko is actively developing business in Poland and has recently established a new company there.