In accordance with the Presidential Decree PD-6167 of the Republic of Uzbekistan, dated 11 February 2021, “On measures to further accelerate privatization processes of state assets”, the State Assets Management Agency of the Republic of Uzbekistan (hereinafter – Agency or Seller) announces its intention to sell 63,4 % shares in the authorized capital of "O'ZGAZLOYIHA" LLC (hereinafter referred to as “O'ZGAZLOYIHA” or the Company) through a competitive sale process (hereinafter – the Deal or Transaction).
Grant Thornton, an international company, acts as Agency' Consultant on the Transaction. The Agency authorizes “UzAssets investment company” (hereinafter - "UzAssets") to further organize the Transaction together with the Consultant.
Brief information about the Company:
The sale is organized as a competitive sale process open to all interested parties (hereinafter referred to as "Participants").
The process consists of receipt of bids from interested participants and then binding offers from Participants and subsequent negotiations with one or more interested buyers.
Participants will be invited to express their interest in the form of a letter (hereinafter referred to as the "Expression of Interest" or EOI) including the following information:
The non-binding offers may be prepared in Uzbek, Russian or English, at the discretion of the Participant.
As a result of the review of applications and attached documents, participants will be personally informed about the results of the selection and the next steps.
After the review of non-binding offers, the Bidders who are the best offers 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 offers. The deadlines for preparation of binding offers and requirements to its structure will be communicated to the selected bidders individually.
The deadline for bids in the form of non-binding proposals is no later than 18:00 Tashkent time on February 10, 2022.
The bidding process is open to 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".
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 Agency, UzAssets, Company and Grant Thornton with respect to the sale of the Company, which could be inferred from the publication of this announcement. Agency reserves the right, in their sole discretion, at any time and in any respect, without assuming joint or several liabilities.