Azerbaijan Recorded Competitive Auctions for Privatization

Baku / 19.09.16 / Turan: The State Committee for Property Affairs has published the results of the September 14 auctions. On two objects there was competitive bidding.

For a booth of about 20 square meters, located in one of the central streets of Baku, there was sale for 66,000 manats with a starting price of 29,400 manats. And for a shop (97.5 sqm) in a remote settlement of the capital the buyer is obliged to pay 38,500 AZN, while the starting price was 19,100 AZN. The remaining 16 sites located in Baku and regions of the country were sold at a starting price.

A total of 28 small enterprises and objects were exhibited, for 10 of which there were no buyers.

This is actually the first competitive bidding since the beginning of the Second State Program of State Property Privatization in August 2000.

In addition to these objects the auction sold 30% blocking stakes in 9 JSCs (993,601 shares) at 50% of the nominal value (AZN 2). Basically these are shares of ginneries in the Barda, Sabirabad and Terter regions, as well as in the city of Shirvan.

Buyers were also found for three helicopters MI-8 and MTB-1 produced in early 1990-ies.

Also sold were four cars and two non-residential premises.

The total amount of the expected state budget revenues from the privatization of these facilities and shares will be 1,840,208 manats.

The next auction will be held tomorrow, 20 September.   ---08B