MED ANNOUNCED INVESTMENT COMPETITION ON PRIVATIZATION OF "OGUZ-SHERAB" JSC
The Ministry of Economic Development (MED) announced the investment competition for privatization of the enterprise producing canned vegetables and processing grapes "Oguz-Sherab" Joint Stock Company (JSC), the department on state property management and privatization under MED told Trend.
Practically the entire shareholding (98,4%) will be offered to investors, and the remaining part is already acquired by the staff in the closed subscription.
The evaluation of the tender bids will take place on 16 December, and the deadline for getting familiar with the privatization plan for the participants of the competition is 20 December at the department on the state property management and privatization. Within their investment program the investors are to specify proposals on production of the high quality chemical goods, investing trends, volume and terms of their investing. The tender winner will have to transfer at least 185 million manats to the state budget and produce 34,000 privatization vouchers for cancellation to the MED department
The factoryвЂ™s authorized capital is 1,2 billion AZM at the nominal cost of one share of 10,000 manats. DebtorвЂ™s arrears of the enterprise are 1,2 billion manats ( $255,300). The factory was commissioned in 1983.