The agency responsible for managing state assets has announced an extension for the submission of binding offers for the purchase of 100% of Avto Climate Control.
Consultants from Portfolio Investments made the corresponding recommendation. Bidders requested additional time "for a comprehensive analysis of the financial and operational activities of the asset in preparation for the binding offer."
The new deadline is 18:00 Tashkent time on December 30. Meanwhile, the consultant will continue to collect expressions of interest in purchasing the company to ensure a competitive environment (at [email protected]).
The application process for the privatization of Avto Climate Control began in August, and by early November, three applications had been received from local and foreign investors for the purchase. Additionally, the agency has accepted two bids for the purchase of 98.8% of the company "Avtokomponent," which was also put up for auction.
About the Companies
- LLC "Avtokomponent" was established in 2010 and is engaged in the production of profiles, mufflers, exhaust systems for cars, as well as round pipes. The authorized capital is 969.5 million soums.
- Avto Climate Control was also founded in 2010 and produces automotive heating and cooling systems. The authorized capital is 12.59 billion soums.
The buyer will be required to maintain the profile of the enterprises for 10 years and not reduce personnel for 2 years following the transaction. More details about the privatization of "Avtokomponent" and Avto Climate Control can be found here and here, respectively.
Earlier, Spot reported on the start of the privatization of 70% in the Uzbek-Korean joint venture UzChasys.