The State Asset Management Agency (AUGA) has allowed three bidders to participate in the purchase of the "Yoshlik" sports complex in Tashkent, according to the agency's press service.

The first stage of privatization lasted four months and concluded on February 6. The privatization consultant Portfolio Investments received applications from three investors interested in acquiring the state share in the authorized capital of Invest Group Centre.

All applications were reviewed to ensure compliance with the following criteria:

  • sufficient financial resources to purchase the asset;
  • neither the bidder nor its shareholders should be a state-owned company or a company with state participation in the authorized capital;
  • absence of judicial, administrative, arbitration, or other disputes that may result in a prohibition on participation in the privatization process;
  • compliance with the law against the legalization of income obtained from criminal activities, financing of terrorism, and the proliferation of weapons of mass destruction;
  • the bidder must not be listed in the public sanctions lists of the European Union, the USA, and major international development banks.

All bidders were deemed fully compliant with the criteria. Binding offers (BО) for the acquisition of Invest Group Centre will be accepted by the consultant until 23:59 February 28.

The bidder must transfer at least 1% of the proposed value as a guarantee payment through their personal account on E-auksion.

Additionally, AUGA announced an extension for accepting applications to purchase a 70% state share in the authorized capital of the joint venture UzChasys. "Two international investors" have been allowed to participate in the acquisition of the state asset. The deadline for submitting binding offers has been extended to 23:59 March 15.

About the Companies

The company Uz Chasys (UzChasys) was established in 2008 in Namangan and specializes in the production of electric lighting fixtures for automobiles. The authorized capital of the company is $6.46 million.

LLC Invest Group Centre manages the sports facilities of the "Yoshlik" complex, which was previously owned by the National Bank of Uzbekistan. The authorized capital is 4.11 billion soums, and the sale of the lot has been ongoing since October.

The potential buyer must maintain the current type of activity for at least 10 years. The construction of buildings and structures on the territory of the sports complex is prohibited, and any repairs or renovations are only allowed with the permission of the urban planning council.

Earlier, Spot reported that AUGA sold the state share in "Trust-12" for 111 billion soums after three years of searching.