The State Committee on Property, after two months of silence announced the result of an investment competition for sale of 99.88% of shares of Ceyranbatan Polimer Materiallari.
The Competition Commission announced its decision in favor of Open Xezer-M Qaz already on 19 September, the State Committee’s report said. The company created for the acquisition of this company (registration date May 25, 2014) has committed to invest AZN 1 million in it for two years.
According to the State Committee, the profile of the Jeyranbatan plant for polymeric materials (Absheron region) acting earlier at Azersutikinti will change. There will be launched production of technical and industrial gases.
In compliance with the terms of the contest, the investor is obliged to transfer to the state budget 300 thousand manat. This represents 31.1% of the nominal value of the acquired company shares (961,700 manat).
In Ceyranbatan Polimer Materiallari including 20 employees the investor intends to open 55 new jobs. Of the 20 members of the workforce 19 people attended the subscription limited to 15% of the shares. They acquired 0.12% of the shares for 972 AZN. --08D-
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