15 September 2022 97

Information about the sale of a 100 percent state share of “Uzgashkliti” LLC

State Assets Management Agency, in accordance with the relevant resolution of the State Tender Commission, announces the signing of Sale and Purchase Agreement, negotiating agreement terms ( dates and forms of payment), with the winner of the public sales for purchase of 100% state share in the authorized capital of "UzGASHKLITI" LLC (hereinafter - the Company) for 133.7 billion soums - "SG ENGINEERING AND DEVELOPMENT" LLC.

In accordance with the Presidential Decree of the Republic of Uzbekistan on February 11, 2021 №PD-6167 "About measures on further acceleration of privatization processes of state assets", sale of 100% state share in authorized capital of "UzGASHKLITI" LLC is realized by the consultant attracted by "UzAssets Investment Company" JSC (hereinafter - UzAssets).

As previously informed, the international consulting company Grant Thornton was attracted for carrying out the privatization process of this state asset on the basis of the best international experience, and the legal support was provided by the international law firm Dentons.

As part of this sales process, complex marketing events were carried out, including the sending of investment teasers by Grant Thornton to more than 25 international and local investors, including through its network of international offices, at the stage of "Investor sounding".

As a result, the Consultant received proposals to participate in the sales processes by providing a competitive environment.

Applicants interested in the next stages of the privatization processes were given the opportunity to access the Virtual Data Room (VDR), including financial, legal, environmental and tax due-diligence, prepared by a consultant, as well as the opportunity to address questions to the Consultant and examine the Company's performance directly by visiting it.

Accordingly, binding offers to purchase this asset were accepted from these applicants.

Based on recommendations of the Consultant and considering that the price offered by SG ENGINEERING AND DEVELOPMENT LLC is higher than the price range offered by other bidders, as well as the estimated market value of the Company calculated by the Consultant and the independent appraisal organization, the proposal of this applicant was considered the best and the successful by relevant resolution of the State Tender Commission.

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