Azerbaijan announces an investment contest for 99.23% of Baku car factory
Baku, Fineko/abc.az. The State Committee for Property Affairs of Azerbaijan has announced an investment competition for sale of 99.23% of shares of OJSC Baki Avtomobil Senaye (Baku Automobile Industry).
The contest subject formed from standard package (85%) and the balance of shares after their subsidized sale to labour collective (14.23%).
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 770,000 to State Budget and 40,000 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 31 August 2010 at the address: 20, Yu.Safarov Street, Baku. Documents and bids from the competitors are received at 10 am - 5:30 pm on 31 August 2010. The tender commission will start estimating the bids at 11 am on 2 September 2010.
The car factory is situated in Khatayi district of Baku city (add: 4, Zikh Highway). The enterprise produces, repairs and serves automobiles of different models.
Its charter capital is AZN 3.196 million and 1.59 million shares with face value of AZN 2 each were issued for it.
The competition subject is 1,581,221 shares with overall nominal value of AZN 3.162 million.
The enterprise has debts of AZN 380,600, including AZN 43,476 of debts on wages and AZN 337,146 of debts on goods, works, and services. At that, the factory was owed for AZN 213,454. The plant has operated since 1969 with personnel of 490 employees.
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