Investment contest announced for 99.67% of shares of Baku Household Machines
Baku, Fineko/abc.az. The State Committee for Property Affairs of Azerbaijan has announced an investment competition for sale of 99.67% of shares of Baki Meiset Masinlari JSC (Baku Household Machines).
The contest subject formed from standard package (85%) and the balance of shares after their subsidized sale to labour collective (14.67%).
Both domestic and foreign investors are allowed to the competition.
The investor should submit a 5% bank guarantee of the investment offer cost in the amount of AZN 300,000 or currency equivalent.
Besides, the investor should also present proposals for transfer of AZN 850,000 to State Budget and 100,000 privatization cheques.
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 - 17.30 pm until 20 September 2010 at the address: 20, Yu.Safarov Street, Baku. Documents and bids from the competitors are received at 10 am - 17.30 pm on 20 September 2010. The tender commission will start estimating the bids at 11 am on 22 September 2010.
The plant is located in Narimanov district of Baku city (add: 6, A. Gaibov). The enterprise produces universal household machines.
Its charter capital is AZN 4.527 million and 2.26 million shares with face value of AZN 2 each were issued for it.
The competition subject is 2,256,428 shares with overall nominal value of AZN 4.5 million.
The enterprise has debts of AZN 533,849, including AZN 297,213 of debts on wages and AZN 236,635 of debts on goods, works, and services. At that, the factory was owed for AZN 4,615. The plant has been functioning since 1985 with personnel of 39 employees.
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