Winery put up for investment contest in Azerbaijan

Business Materials 16 February 2015 20:02 (UTC +04:00)

Baku, Azerbaijan, Feb. 16
By Huseyn Valiyev - Trend:

The Azerbaijani State Committee for Property Affairs has announced an investment contest for the sale of 99.97 percent of the shares of the Jalilabad Sharab (Jalilabad Wine) enterprise, Mulkiyyet newspaper published by the committee said Feb. 16.

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 500,000 AZN to the state budget. A bidder must submit a letter of guarantee from any bank in the amount of 175,000 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 February 1, 2015, the authorized capital of the company was 3,062,804 AZN. Some 765,701 shares with par value of 4 AZN each have been issued.

Around 765,477 shares of the company worth 3,061,908 AZN were put up for the investment contest.

The company has accounts payable worth 472,973 AZN. Accounts receivable is 28,710 AZN.

Around 12 people work at this enterprise.

Those wishing to participate in the contest may obtain further information and read the privatization plan daily from 10:00 to 17:30 (UTC/GMT +4 hours) until March 16, 2015 at the address: 50, Y.Safarov, Baku.

The documents are received from 10:00 to 17:30 (UTC/GMT +4 hours) until March 16, 2015.
The bids will be considered in the state committee's building by the contest commission from 14:00 (UTC/GMT +4 hours) on March 17, 2015.

The official exchange rate is 0.7848 AZN/USD Feb. 16.

Edited by CN

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