Tea-packing factory put up for investment tender in Azerbaijan

Business Materials 15 April 2014 17:15 (UTC +04:00)

Baku, Azerbaijan, April 15

By Emin Aliyev - Trend:

The Azerbaijani State Property Committee has announced an investment tender for the sale of 93.96 percent of shares (85 percent - from the standard package of the investment contest and 8.96 percent - from the balance of shares after their preferential sale to the staff) in the Bakı Caycekici (tea packing factory), according to a report published in Mulkiyyat newspaper.

The tender is open to Azerbaijani physical and legal entities, as well as foreign investors, the report said.

Those wanting to participate in the tender must submit an investment program, bank guarantee for five percent of the value of the investment proposal as well as a proposal for transferring 80,000 manat to the state budget. The applicant must submit a letter of guarantee of any bank to the amount of 25,000 manat to confirm earnestness.

The investment program must contain proposals for establishing modern production and infrastructure, landscaping and creating new jobs.

As of April 1, 2014, the authorized capital of the enterprise is 171,740 manat, of which 85,870 shares at a par value of two manat for each share were issued. The tender subject is 80,680 shares with a total nominal value of 161,360 manat.

As of April 1, the enterprise's accounts payable is 198,813 manat. There is no accounts receivable.

The number of employees is 10 people.

Those wishing to take part in the tender may obtain further information and familiarize themselves with the privatization plan from 10:00 to 17:30 daily until May 14, 2014 at the address: 20, Y.Safarov str., Baku.

Documents and proposals are being accepted from 10:00 to 17:30 until May 14, 2014.
The tender commission will consider the proposals at the State Committee from 11:00, May 16, 2014.

The official exchange rate is 0.7844 AZN/USD on April 15.

translated by NH
Edited by CN