The State Service for Property Issues under the Ministry of Economy has announced an investment competition to privatize the state share in Ganja Carpet Factory LLC in accordance with the II State Program for the Privatization of State Property in the Republic of Azerbaijan” and “Rules for conducting an investment tender”.
129,565 shares with a total nominal value of 12,956,500 manats (with the addition of the remainder of the preferential sale to members of the labour collective) were put up for an investment tender for the privatization of the state share in Ganja Carpet Factory. The authorized capital of the Company is 14,260,000 manats, with the liabilities of 447,543 manats and receivables of 152,866 manats.
To participate in the investment tender for the privatization of this enterprise, bidders must submit an investment program with a total value of at least 15,000,000 manats, indicating the areas, amount and term of investment, as well as make proposals for the creation of new jobs, the use of modern equipment and technologies, and the expansion of the range of products.
The winner of the tender must ensure transfer of at least 7,000,000 manats to the state budget for the purchase of shares in the joint-stock company.
The winner of the investment tender must sign a contract for the purchase and sale of shares of the joint-stock company within 30 days from the date of approval of the protocol on the results, transfer the proposed funds to the state budget within 30 days from the date of signing and, in general, fulfill the terms and obligations established by the contract.
Foreign investors can participate in the tender in addition to legal entities and individuals of the Republic of Azerbaijan.
The state property put up for the investment tender can be found at: https://bit.ly/3zVIJin
Bidders’ applications and proposals will be accepted until September 15, 2022 on weekdays from 10:00AM to 05:30PM at the State Service for Property Issues (Address: 50 Y.Safarov St., Baku).
Bids will be evaluated by a Commission in the administrative building of the State Service for Property Issues under the Ministry of Economy on September 16, 2022 starting from 15:00PM.
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