In Kazakhstan trades will be held for sale of ATETS-2, ATETS1, AGES on December 27, 1999

/IRBIS, Dec.20, 99/ - REUTERS informs, with the reference to the information of the Agency for reorganization and liquidation of enterprises, that in Kazakhstan open trades will be held for sale of the assets of Akmola TETS2, Akmola TETS-1, Akmola electric networks within a single lot, whose starting bid is 3,638,830,607 tenge. Open trades will be held by English method. Starting bid of the lot is determined by adding initial prices of properties of all bankrupt enterprises: JSCOT ATETS-2 - 1,925,414,372 tenge, JSCOT TETS-1 - 955,520,730 tenge and JSCOT AGES - 757,895,505 tenge. The lot includes both primary and secondary assets of a whole technological process of generation and transportation of electric and thermal energies. These enterprises were declared bankrupt by the court of Astana. Potential winner of the open trades, should assume following additional responsibilities by a contract: - repay the debt to the third rank creditors by coordinating with their representatives in case of insufficiency of funds raised by selling the assets; - insure the continuity of work relations with the employees; - compensate the expenses, related to maintaining uninterrupted work of the complex during the competitive production period by using the assets not entered into competitive bidding, in addition to purchasing price of the assets within five days from the date of signing a contract.