Investment contest for 96.98% of tyre works announced in Azerbaijan

Baku, Fineko/ The State Committee for Property Affairs of Azerbaijan has announced an investment competition for sale of 96.98% of shares of JSC Azersin (Azerbaijan Tyre).

The shares package was formed from a standard package offered for investment contest (85% of shares) and the balance of shares after subscription for them by the labour collective (11.98%).

Both domestic and foreign investors are allowed to take part in the competition.

The investor 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 and get more information at 10 am - 17.30 pm until 31 March 2011 at the address: 20, Yu. Safarov Str, Baku.

The documents and bids are accepted at 10 am – 17.30 pm until 31 March 2011.

The bids will be assessed from 12 am on 1 April 2011. For more information call to the State Committee: 4902408 (extension: 242).

The plant is located at address: 37, Zikh Highway, Baku.

Azersin (add: 8, Araz Street, Baku) produces motor vehicle tyres and wheels.

The enterprise’s charter capital totals AZN 1.79 million and over 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 AZN 1.7 million.

Azersin has liabilities for AZN 5.67 million, including AZN 70,473 on wages and AZN 5.6 million on payment of goods, works and services. Enterprise’s accounts receivables reach AZN 2.45 million. The enterprise has been operating since 1959 with personnel of 530 employees.



21.02.2011 09:38


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