KPMG Azerbaijan Limited Wins Tender of State Property Committee

The State Committee for Property Affairs (SCPA) of Azerbaijan announced on October 21 the results of the tender for the provision of advisory services for the privatization of JSC Dashkesan Filizsaflashdirma, created on the basis of the Dashkesan mining processing plant.

The Communication Ministry's press service noted the competition was won by the Azerbaijani representation of KPMG Azerbaijan Limited.

The tender was attended by 8 companies, including 4 in a consortium. The names of these companies, as well as the amount of the tender offer of the winner, are not reported.

Under the terms of the tender KPMG will assess the joint-stock company, the analysis of financial and economic activity of the enterprise and the amount of investment required, and prepare a memorandum to attract potential investors. Implementation of the investment competition for privatization of the JSC is also the responsibility of this company.

SCPA also revealed some of the features on the upcoming privatization of the Dashkesan mining plant. These are payment to the state budget, the amount of the proposed investment and its effective investment.

Note that JSC Dashkesan Filizsaflashdirma was twice privatized by foreign investors. Later, the results of the investment competitions were canceled.   ----08D