Azerbaijan announces an investment contest for 98.45% of electromechanical plant’s shares
Baku, Fineko/abc.az. The State Committee for Property Affairs of Azerbaijan has announced an investment competition for sale of 98.45% of shares of OJSC Yeni BEMZ (New Baku Electromechanical Plant).
The contest subject formed from standard package (85%) and the balance of shares after their subsidized sale t labour collective (13.45%).
Both domestic and foreign investors are allowed to the competition.
The investor is to submit a 5% bank guarantee of the investment offer cost. Besides, the investor should also present a proposal for transfer of AZN 800,000 to State Budget and 35,000 privatization cheques (for foreigners: also an equal number of options).
The competitor should submit an investment program (proposals for installation of necessary equipment), provide information about its activity and a copy of its Charter and get more information at 10 am - 5.30 pm until 24 August 2010 at the address: 20, Yu.Safarov Street, Baku (tel: 490-24-08 (242)). Documents and bids from the competitors are received at 10 am - 5:30 pm on 24 August 2010. The tender commission will start estimating the bids at 11 am on 26 August 2010.
Yeni BEMZ OJSC is situated in Narimanov district of Baku city (add: 3, Kendelen Str). The plant produces electric engines and consumer goods.
Its charter capital is AZN 3.196 million and 1.598 million shares with face value of AZN 2 each were issued for it.
The competition subject is 1,573,392 shares with overall nominal value of AZN 3.146 million.
The enterprise has debts of AZN 2.525 million, including AZN 138,620 of debts on wages and AZN 2.386 million of debts on goods, works, and services. The enterprise was owed for AZN 869,946. The plant has operated since 1947 with personnel of 385 employees.
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