AZERBAIJAN"S LARGEST BROILER COMPANY SOLD TO LITTLE KNOWN FIRM
    BAKU/14.09.10/TURAN: Monolit-D Ltd won the investment bidding for 99.17% of the shares of Siyezen Broiler JSC - the largest broiler company in Azerbaijan. Two firms competed in the bidding. The rival"s name has not been reported. Monolit undertook to invest AZN 16,230,600 in the enterprise in three years.
     The firm is little known in Azerbaijan. It is also unclear what sources will finance the large-scale project.
     The broiler company is to set up 100 new jobs and transfer AZN 2.4 million to the state budget. It will also submit 40,000 privatization vouchers for reimbursement.
     The Lebanese company Ruby Rose Group S.A.R.L was debarred from the 99.17% of the Siyazan Broiler shares it owned by the Azerbaijani court in 2006. The court formally explained it with the Lebanese company"s failing to meet the contractual liabilities (it allegedly failed to invest $35 million in the enterprise"s reconstruction). But several experts guess the company was just punished for its financial relations with the former Economic Development Minister, Farkhad Aliyev, who had a wide business network, but is in prison now.
     Siyezen Broiler"s authorized capital is AZN 16.7 million. The shareholder list includes 75 physical and juridical persons. The factory was built in 1985. It gives jobs to 1,315 people.--08B-

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