In accordance with the Presidential Decree PD-6167 of the Republic of Uzbekistan, dated February 11, 2021 “On measures to further accelerate privatization of state assets", The State Assets Management Agency of the Republic of Uzbekistan (hereinafter - the Agency or Seller) announces its intention to sell a 100.0% share in the authorized capital of “UzGASHKLITI” LLC (hereinafter - the "Company" or "UzGAShKLITI") by public invitation to negotiate (the "Transaction" or "Sale").
The international company Grant Thornton acts as the consultant of the Agency on the Transaction. The Agency authorizes the investment company UzAssets (hereinafter - UzAssets) for further organization of the Transaction together with the Consultant.
Brief information about the Company:
The sale is organized as a competitive bid process open to all interested parties (hereinafter referred to as "Participants").The process will consist of receiving non-binding and then binding bids from interested Participants, and subsequent negotiations with one or more interested Participants.
At this time, Participants are invited to express their interest in the form of a letter of application ("Non-Binding Offer") that includes the following information:
The non-binding proposal may be prepared in Uzbek, Russian or English, at the discretion of the applicant.
Upon review of the Applications and attached documents, the applicants will be personally notified of the results of the selection and the next steps.
Based on the results of the review of the non-binding proposals, the applicants who have offered the best proposals will be provided with additional information about the Company, including analytical reports (due diligence) prepared by Grant Thornton, a draft sale and purchase agreement and will be invited to prepare binding proposals. The deadlines for the preparation of binding offers and the requirements for its structure will be communicated to the selected bidders individually.
The deadline for submission of non-binding bids is no later than 18:00 Tashkent time on February 20, 2022.
Applications must be sent to the following email addresses:
The Bid submission process is open for all Participants. The transaction will be carried out in accordance with the requirements of the Law of the Republic of Uzbekistan "On Limited Liability Companies and Additional Liability Companies".
The Agency reserves the right to change the sequence of the sale process or to refuse to sell to or negotiate with any potential buyer(s) at any time without explanation.
This announcement, or any part of its contents, should not be construed as a form of commitment on the part of the Agency, UzAssets, the Company and Grant Thornton to sell the Company, which could be inferred from the publication of this announcement. The Agency reserves the right, in its sole discretion, at any time and in any respect, without assuming joint or several liability