The Azerbaijan Investments Company (AIC) has resumed stake negotiations with Garadagh Cement, according to deputy executive director of AIC Riyad Gasimov.
"Garadagh Cement has been sent an official notification that we are prepared to make the arrangements to acquire the shares. We have had legal complications but we have made every effort to eliminate them. We are waiting for the company to react to our notification so that the negotiations can be resumed," Mr Gasimov said.
A preliminary agreement had been established whereby AIC would acquire a 20 per cent equity stake in Garadagh Cement.