State begins privatization of Avtooyna and Uz-Koram Co. with strict post-purchase conditions

The State Assets Management Agency has announced the start of the privatization of the Avtooyna and Uz-Koram Co. factories.

100% stakes in both enterprises, which produce automotive components, are up for sale. The consulting firm Portfolio Investment is serving as the advisor for the transactions.

Applicants are invited to submit an expression of interest (EOI) in purchasing the asset. This should be accompanied by information about the company, its founders (shareholders) and beneficiaries, as well as financial statements for the past three years.

Applications are to be submitted to the email address munir.yakubov@piamg.uz. The deadline for Uz-Koram is August 20, and for Avtooyna is August 27.

If accepted to the next stage, potential investors must sign a non-disclosure agreement to gain access to the virtual data room. When submitting a binding offer, a deposit of at least 1% of the proposed amount is required.

The buyer must maintain the core business profile of the enterprise for at least 10 years and comply with licensing agreements with the supplier approved by General Motors. Additionally, they are prohibited from reducing the workforce in the first two years after the purchase.