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90.4% of state’s share in LLC “Machine-Building Plant” named after Buniat Sardarov” sold at auctions

The State Property Service announced results of auctions for the sale of 100% of the state’s share in the LLC “Machine-Building Plant” named after Buniat Sardarov”.

An investor was offered 85%, and 14 members of the labor collective 15% (1 million 692.000 manats) of equity participation in the LLC property. At the same time, only a potential investor was granted the right to purchase a land plot estimated at 4 million 780.500 manats.

The auction, as well as the closed subscription among the members of the labor collective, took place on August 23. During the auction the investor sold a share in the LLC worth 14 million 369.000 manats (including the land plot). The members of the labor collective acquired shares totaling 120,863 manats. Thus, at two auctions, a total of 90.4% of the state’s share in the “Machine-Building Plant” named after Buniat Sardarov was sold.

According to the SPS announcement, the useful area of the LLC is 58,471 m2. 117.700 m2 of the company’s land area is being privatized. One hundred acres of land is estimated at 4,058 manats.

Worthy of notice is the fact that the privatization portal contains other data regarding the territory and land area of the enterprise, as well as the number of its employees. It is noted that the area of the plant’s fixed assets is 155.200 m2, and the land area is 37 hectares. The company employs 160 people.

Note that the “Machine – Building Plant” was founded in 1926 . The company specializes in the production of equipment for oil industry, in particular, valves, fountain fittings, etc.

Source: Turan News Agency