Azerbaijan announces a new investment contest for 96.98% of tyre works
Baku, Fineko/abc.az. The State Committee for Property Affairs of Azerbaijan has announced an investment competition for sale of 96.98% of shares of Azersin JSC (Azerbaijan Tyre) which formed from 85% of standard investment contest shares package and 11.98% of the shares remained after close subscription of labor collective for the enterprise shares.
Both domestic and foreign investors are allowed to take part in the competition.
The claimants should submit a 5% bank guarantee of the investment offer cost for at least AZN 270,000 or currency equivalent.
Besides, proposals should be presented for transfer of AZN 800,000 to State Budget.
Claimants should submit an investment program to contain proposals for preservation of the complex’s profile, as well as information about the enterprise’s activity and a copy of its charter. They can get more information at 10 am – 5:00 pm until 9 July 2012 at the address: 20, Yu. Safarov Str, Baku. Documents and bids will be accepted till 10 am – 5:30 pm on 9 July 2012.
The bids will be assessed starting from 11 am on 11 July 2012. For more information call to the State Committee: 4902408 (extension: 242).
The tyre producer enterprise (located in Baku on 8, Araz Street) deals with production and operation of automobile tyres and wheels.
The enterprise’s charter capital totals AZN 1.79 million and 894,314 shares were issued for it with face value of AZN 2 each.
The competition subject is 867,309 shares with overall nominal value of AZN 1.7 million.
The enterprise has liabilities for AZN 5.718 million, including AZN 49,625 on wages and AZN 5.669 million for purchase of goods, work and services.
Enterprise’s accounts receivables reach AZN 2.45 million. The enterprise has been operating since 1959 and has staff of 480 employees. Earlier in 2012, it was announced a similar contest, completion of which was scheduled for 1 April.
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