Azerbaijan to Sell 26 SOE’s on October 25

BAKU – Azerbaijan’s State Committee for Property Affairs announced Monday that 26 state-owned enterprises (SOEs) would put up for sale at a public auction on October 25.

According to the committee the opening bidding price for each company will be set and USD 914,000, a 50 per cent discount from their estimated nominal value of USD 1.83 million.

Local Azeri news agencies have reported that the largest companies to be auctioned off at the public offering will include poultry factory Salyan Broyler, grain supplier Qax Taxil, agricultural producer Zardab Aqrotexservis and nut processor Zaqatala Findiq,

The upcoming auction comes in the wake of the Azeri government’s August announcement that 65 SOEs would be privatized by early 2017. That number was later revised on September 11 when Baku announced that 85 SOEs would be put up for sale a month later.

The latest round of auctions will sharply contrast with Azerbaijan’s previous privatization programs. According to Azeri President Ilham Aliyev’s point man on economic issues, Natig Amirov, the new owners will be required to include investment projects to the government once they’ve acquired a controlling stake in each enterprise.

By Nicholas Waller