Another Holding Declined from Shares


JSC Parent Company of the Financial and Industrial Group Gilan Holding announced today (March 16) the change of its legal form into a limited liability company.

The company also changed its name. It will be called the LLC Gilan Holding. In December 2015, the holding founded another subsidiary under the name. According to the state register of commercial legal entities, the former company Gilan Holding Ltd (TIN 1304126411) is now called Gilan Group. The head of both companies is Tahir Jamil oglu Muradov.

JSC Parent Company of the Financial and Industrial Group Gilan Holding was created in 2005 with a minimum share capital established by law for the public joint-stock company - 4,000 manats. The issue of shares of the company was delayed for many years and took shape after the intervention of the State Committee for Securities.

The legal department of LLC Gilan Holding did not disclose the actual reasons for the refusal of the shareholder activities of the group of companies. According to unspecified data, the holding includes several hundred companies and enterprises in Azerbaijan and abroad.

Gilan Holding is owned by two sons of the Minister of Emergency Situations Kamaladdin Heydarov.

In January and February, such major joint-stock companies as Ata Holding and Synergy Group, were also converted into LLC. ---- 08B

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