Baku, Azerbaijan, Nov. 18
By Maksim Tsurkov - Trend:
The Azerbaijani State Committee for Property Affairs has announced an investment contest for the sale of 99.83 percent of Salyan Elektrik Qaynaq Avadanliqlari's shares, Mulkiyyet newspaper published by the committee said Nov. 18.
The contest is open to physical and legal entities of Azerbaijan, as well as foreign investors, the statement said.
The bidders must submit an investment program with proposals to restore the activity of the enterprise and proposals for transferring 180,000 AZN to the state budget. A bidder must submit a letter of guarantee from any bank in the amount of 60,000 AZN to confirm the seriousness of intentions.
The investment program must contain the proposals to purchase the appropriate equipment, repair the available facilities and construct new ones, improve the infrastructure of the enterprise, create new jobs and social welfare of employees.
As of September 1, 2014, the authorized capital of the company was 766,680 AZN. Some 383,300 shares with par value of 2 AZN each have been issued.
Around 382,680 shares of the company worth 765,400 AZN were put up for the investment contest.
The company does not have accounts payable. Accounts receivable is 58,670 AZN.
Around 4 people work at this enterprise. The company's activity includes the production and sale of electric motors, generators and transformers.
Those wishing to participate in the contest may obtain further information and read the privatization plan daily from 10:00 a.m. to 5:30 p.m. (local time) until December 17, 2014 at the address: 50, Y.Safarov, Baku.
The documents are received from 10:00 a.m. to 5:30 p.m. (local time) until December 17, 2014.
The bids will be considered in the state committee's building by the contest commission from 11:00 a.m. (local time) on December 19.
The official exchange rate is 0.7845 AZN/USD Nov. 18.
edited by CN