WARNING: This is Version 1 of my old archive, so Photos will NOT work and many links will NOT work. But you can find articles by searching on the Titles. There is a lot of information in this archive. Use the SEARCH BAR at the top right. Prior to December 2012; I was a pro-Christian type of Conservative. I was unaware of the mass of Jewish lies in history, especially the lies regarding WW2 and Hitler. So in here you will find pro-Jewish and pro-Israel material. I was definitely WRONG about the Boeremag and Janusz Walus. They were for real.
Original Post Date: 2010-09-21 Time: 09:00:02 Posted By: News Poster
By Zekarias Haddush
The Development Bank of Ethiopia (DBE) is to sell Menahem Tizazu Flower Farm through negotiations after it had failed to attract bidders that met the price it had set for the farm in four previous auctions.
Eyasu Sirak (PhD), owner and managing director of Shine Pay Flower and Vegetable Farm Input Supply Agents, and Blue Point Real Estate have shown interest in buying the farm through negotiations.
The DBE floated two tenders while the farm was still under the debtor’s ownership, which was transferred to the DBE when it failed to fetch a satisfactory result.
During the last bid which was closed on August 11, 2010, only Eyasu showed interest. Due to the low turnout, the DBE cancelled the bid.
The bank is currently in the final stages of selling Menahem Tizazu Flower Farm through negotiations the customary procedure for foreclosed properties which have failed to fetch the set price.
However, on the last day of the negotiations, Thursday, September 16, 2010, only Eyasu showed up, which forced the bank to postpone the negotiations to another day, yet to be determined.
“Both parties have to be present for negotiations to go on, and it was felt that Blue Point Real Estate was not properly informed of the date of the final negotiations,” an official who is close to the bank and requested anonymity, told Fortune.
Once the negotiating parties have presented their final offers, the disposal committee for foreclosed properties will send its findings with its recommendations to Esayas Bahre, president of the bank, who will make the final decision, according to the official.
“Some of the criteria the committee considers in choosing the winner include the price offered for the flower farm (the minimum set by the bank is 14.3 million Br), the terms and percentage of payment (the minimum set is a 30pc down payment), and the time in which the rest of the money will be paid,” the official said. “While it is not one of the official criteria, the experience of the bidder in the sector and its creditworthiness in paying its debts will also weigh on the final decision.”
If the DBE succeeds in selling Menahem Tizazu Flower Farm, which covers 10ht in Bishoftu Town, 45 km south of Addis Abeba, it will be the fifth one the bank has transferred to other investors.
Menagesha Flower Farm, a 32ht farm located in Menagesha Town, 44 km west of the capital, in Oromia Regional State, is the sixth foreclosed flower farm. During its first auction, which closed on August 12, 2010, it failed to fetch a bidder. The DBE has floated a second bid which will be closed on September 22, 2010.
Original date published: 21 September 2010
Source: http://allafrica.com/stories/201009210219.html?viewall=1