Yacht Club Prepared for Sale

Baku / 27.09.17 / Turan: The State Committee for Property Issues (SCPI) has completed the assessment and transformation of three non-core enterprises, which were previously part of the structure of Azerbaijan Caspian Shipping Company, into a separate legal entity.

As the Ministry of Taxes reported on September 27, the issue of creating limited liability companies based on the seaside Yacht Club, the Central Seamen"s Hospital and the Seamen"s Polyclinic, was decided on June 23 this year. The authorized capital of Yacht Club LLC was determined in the amount of 3,269,600 manat, Merkezi Denizchiler Khestekhanasi LLC (Central Seamen"s Hospital) - 1,832,200 manat and Denizchiler Poliklinikasi LLC (Seamen"s Polyclinic) - 1,022,400 manat.

The time planned to expose these enterprises to privatization is not yet reported. Previously, the SCPI reported on the method of selling only one of these enterprises: the Central Seamen"s Hospital was subject to privatization by corporatization and investment competition. However, as it turned out, the hospital was transformed not into JSC, but into LLC. According to the information of the SCPI privatization portal, the hospital acting since 1964 (https://goo.gl/uZWUs3) employs 211 people, including 70 doctors. ----08B

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