Newsfeed

Central Bank: By 1 April 2016 overdue loans in Armenian banks grew by 22.5% over year

Vladimir Yevseyev: Updated Madrid Principles will not be implemented until the armed conflict is frozen

Mass Media: Bodyguards of Transport Minister detained under case over beating of businessman's son Sergey Abovyan

Stepanakert: The territories the Armenian side lost in April were mostly part of the buffer zone around Nagorno Karabakh

Federica Mogherini says next annual Eastern Partnership Foreign Ministers' meeting will be held in spring of 2017

Seyran Ohanyan has not met with Samvel Babayan

PACE Co-rapporteurs: Those responsible for atrocities in Karabakh conflict zone should be held fully accountable

Expenses of Armenian President's Administration up 10% in 2015

Prime minister: Supply of Russian weaponry to Armenia launched

Serzh Sargsyan and Seyran Ohanyan to discuss Karabakh problem in presidential residence tonight

Two-fold growth of loan restructuring applications registered in VTB Bank (Armenia)

Head of Armament Unit of Armenia's Armed Forces dismissed

Sharmazanov: Genocide of Christians in Ottoman Turkey, IS actions and Azerbaijani aggression have same handwriting

Ex-president of Armenia included in list of candidates for election to the new Board of Directors of JSFC Sistema

Mammadyarov: Status quo in Karabakh conflict may lead to severe military clashes

Trial over case of the cardboard tank that "crashed" into NSS building is still going on

Tatoul Manaseryan: Top power branches have a great number of caterpillars

Штормовой ветер срывал крыши домов и не на шутку напугал жителей Еревана

Armenian President attends ceremony of unveiling of Memorial to Marshal Hamazasp Babajanian

Bostanjyan calls for reducing all expenses having no crucial significance to state

OSCE PA Special Representative for South Caucasus arrives in Armenia

Seyran Ohanyan: Territories lost during April war were part of Artsakh

Armenian Defense Ministry responds to media reports about dismissal of commander of Mataghis regiment

Greek Defense Minister: Nagorno Karabakh conflict should be settled exclusively through peaceful means

Armenia and China discuss issue to boost cooperation

Baku trying to shift responsibility for April flare up in Karabakh onto Armenian side

Azerbaijani armed forces fire at Azerbaijani-Armenian border

Vice Speaker of Armenian Parliament: Due to parity in international statements on Karabakh problem, the peace process has been going round in a circle for nearly 20 years

Criminal case over embezzlement at ENA CJSC sent to court with a crime sheet

On May 21 as many as 112 museums of Armenia to open their doors to visitors from 6 pm till midnight

Average life expectancy for Armenia is 74.8 years, according to World Health Statistics: Monitoring Health for the SDGs

Samvel Farmanyan: Agramunt is not the politician to have any influence on Karabakh conflict settlement

Lydian International: financing package of Amulsar program is approved. Construction will launch in upcoming months

Serzh Sargsyan: April war has once again proved unity of our nation in its pursuit of liberty and protection of independence

Azerbaijan breached ceasefire agreement using various small arms

ACBA Leasing participates in "Week of Economic Capacities" as financial partner

Bako Sahakyan addressed to participants of 2nd forum of Armenian Political Parties launched in Stepanakert

Stepanakert rejects Baku's accusations of alleged use of prohibited shells with white phosphorus

EEU Prime Ministers agreed on establishing common market of petroleum and petroleum products and terms of adopting new common customs code

Armenian president presented to EEU prime ministers latest developments around Nagorno-Karabakh problem

Parliamentary opposition is skeptical about Armenian Prime Minister's intention to fight corruption

Loss of 800 hectares by Armenian side causes stormy debates at Armenian Parliament

Zhirayr Sefilyan says he is ready to assume authority for restoring Karabakh's territorial integrity by force

Dmitry Medvedev: My second visit to Armenia within a month speaks of the high level of the allied relations of Yerevan and Moscow

Beeline Communication Museum to join Museum Night event

Russian foreign ministry: Sargsyan and Putin will probably meet in Astana on May 31

Inhabitants of Garni and Goght demand from Hovik Abrahamyan and Ishkhan Zakaryan to cancel construction of irrigation systems designed for their own needs

PACE Chair: "All conflicts must be solved within the territorial integrity of the countries"

EEU Summit of Prime Ministers due to commence in Yerevan

Nagorno Karabakh disclaims Azerbaijan's allegations

Regional

AIC sold the shares in the two companies for an unknown price

  • Friday, January 18, 19:15

Baku. In 2012, the state-run Azerbaijan Investment Company (AIC) in view of the successful activity of the Sangachal oil and gas terminal and the Masazyr salt plant sold its shares in these projects to partners. This became known at the January 15 Cabinet meeting chaired by President Ilham Aliyev during the report by Economic Development Minister Shahin Mustafayev.

A few days ago CEO AIC Rovshan Najaf gave interviews to the local press, but did not mention these deals.

In 2007, the AIC acquired a 25% stake in two CJSC Sangachal oil and gas terminal and Azerbaijani association of salt production." Investments in these companies by AIC were announced at the signing of contracts respectively for $ 9 million and $ 2.9 million.

The press service of the ministry did not disclose the cost of transactions of purchase and sale of shares in these companies AIC. Press Secretary of the Ministry of Economic Abbas Aliyev said only that "the transaction was successful, and the cost exceeds the amount of the investments."

In the department of Public Relations Ltd. Azersun Holding they told Turan that AIC has sold its stake in the plant for the refining of salt at a price not lower than their investments.

               In another project involving AIC its partner is LLC Qafqaz Trans Service - a subsidiary of the Company Azersun Holding. This company did not disclose information about buying a 25% stake in Sangachal Oil and Gas Terminal JSC either.

According to the exit strategy from the AIC invested projects, the company can sell its shares by public offering on the stock exchange, a strategic investor or existing shareholders. For whatever reasons in both investment projects AIC chose the latter path.

JSC AIC was established in March 2006. Its registered capital is 160 million manats. The purpose of creation of the company is the promotion of non-oil sector.

According to the Civil Code and the regulations of the State Securities Committee, an insider in this case, the holder of more than 10% of the shares shall be published in the media all the information about the transaction of purchase and sale of shares.

Send to a friend

To (e-mail)


Your name


Message


Comments

View comments (0)
  • READ ALL COMMENTS
  • POST A COMMENT

Be first to comment on this article

* Indicates required fields