The Development Bank of Ethiopia intends to sell the following properties which have been acquired due to defaulted loan in pursuant to proclamation No. 97/90 and 1147/11.

Bid Announcement

The Development Bank of Ethiopia intends to sell the following properties which have been acquired due to defaulted loan in pursuant to proclamation No. 97/90 and 1147/11.

Instructions፡

1. Interested bidders can purchase a complete bidding document, in English, during the run of office hours from the Ongoing Concern Projects and Acquired Assets Management Directorate of the Bank upon payment of non-refundable fee of Birr 100.00 (Birr One Hundred) in cash to Corporate Branch, and fill out the bid document with their name, the price they are going to offer and other information as required by the accompanying format. The complete Wax-sealed bid document should be received until March 09/2023; 9.50 AM for Alemgenet Trade and Industry PLC፤ for Tagy rose Integrated Farm PLC until March 10, 2023; 9:50AM and for Tericordia Integrated Farm PLC, until March 10/2023; 7:50 PM through bid boxes placed in the Bank’s Head Office, second tower, ground floor starting from the third day of publication of this notice announcement.
2. Bidders shall submit 10 %( ten percent) of the floor price only in CPO as an earnest.

• A winner shall pay the total acquisition price within 15 (Fifteen) calendar days. Failure to pay within the specified time period shall be the cause for the loss of the earnest price and cancellation of the award.
• The Bid shall take place at the Head office of Development Bank of Ethiopia on the date and time specified in the table above.
• The winner is expected to pay 15% VAT (Fifteen Percent Value Added Tax), and all other legal and administrative fees and charges that are associated with the sale of the property.
• The winner can apply for a loan facility for the unpaid balance as per the Bank’s Credit Policy and Procedure.
• Only the bidders or their legal representative will be allowed to attend the bid process.

8. Interested and eligible bidders may obtain more information from the Development Bank of Ethiopia Ongoing Concern Projects and Acquired Assets Management Directorate 2^nd Tower 3^rd Floor or through telephone 011-524-53-73/011-524-42-69. The Bank can arrange a pre-scheduled visit for interested bidders, up on prior notice to the Directorate.
9. The Bank reserves the right to cancel the bid partially or fully.

THE DEVELOPMENT BANK OF ETHIOPIA