Azertutun sold more than half of its shares


November 30, Fineko/ On 15 October 2021 the State Property Service announced an investment tender procedure for the sale of 85% of the shares of Azertutun OJSC, located in village Yukhari-Tala of Zagatala district, and the remainder of the preferential sale of shares to members of the labor collective.

ABC.AZ reports that on 18 November 2021 the competition commission considered the proposals of the applicants. 

Tabaterra Leaf CJSC was elected the winner of the investment competition for the sale of shares of Azertutun by open voting among the members of the competition commission.
In accordance with the terms of the purchase and sale agreement signed with the winner of the competition on 25 November 2021, the investor assumed obligations to transfer funds in the amount of AZN 6.4 million to the State Budget, to implement an investment program for AZN 8.2 million, as well as to ensure repayment of the company's accounts payable.