The State Asset Management Agency has announced the sale of a stake in UzChasys's charter capital.
Buyers are being offered a 70% share in a joint venture, previously owned by "Uzavtosanoat" through its subsidiary Uzautocomponents. An additional 30% will be sold concurrently by the company's co-owner, the Korean AMS Co Ltd.
Portfolio Investments is serving as the advisor during the privatization process. In the first stage, candidates must submit an expression of interest along with necessary information, including financial statements for the past three years.
Applications are accepted via email at [email protected] no later than 18:00 Tashkent time on December 17.
All candidates will be screened for compliance with criteria, including the absence of the company, its founders, or related parties from the sanctions lists of the USA, EU, and international development banks. Qualified participants will be invited to submit binding offers.
In the second stage, the candidate will need to deposit at least 1% of the proposed price as a pledge through E-auksion. To obtain detailed information about the asset, a non-disclosure agreement (NDA) will need to be signed.
The buyer will be required to maintain the enterprise's operational profile for a minimum of 10 years after the purchase, as well as adhere to licensing agreements with General Motors. Additionally, they must maintain jobs and employee numbers for at least 2 years.
About the Company
Uz Chasys (UzChasys) was established in 2008 in Namangan and specializes in producing electric lighting devices for vehicles. The company's charter capital amounts to $6.46 million.
Previously, shares in Uz-Koram and "Avtooyna" were put up for auction, with 4 investors currently interested in each. There is also an ongoing privatization of state shares in the companies "Avtokomponent," Auto Climate Control, and Auto Rubber.
Earlier, Spot reported that the AUCA will offer share packages in the grain enterprises "Kuva Don Mahsulotlari" and "Khorezm Don Mahsulotlari" at the stock exchange.