We are pleased to announce the completion of the final stage of the open auction — submission of binding offers (BO) — for the privatization of 34.2% of the state share in the charter capital of JV LLC “Uz Truck and Bus Motors”. The process fully respected the founding rights of foreign participants — MAN Truck & Bus SE and Sinotruk — each holding 32.9% of the JV.
Key highlights
Winner of the BO: Turon Industrial Investment LLC with the highest bid of 200 billion UZS.
Parties signed a Term Sheet with commitments: maintain core business for at least 5 years and ensure company development.
Article 31 of the Law on Privatization of State Property: initial payment of 35% within 1 month.
Process stages
Three stages: EOI, NBO, and BO.
Participants: 5 bidders.
At the BO stage all received due diligence reports.
Organization and expertise
Lead financial advisor — Portfolio Investments.
Independent valuation — Kholis Expert LLC.
Auction started: March 10, 2025.
Acknowledgements
Portfolio Investments extends thanks to the Agency for State Asset Management for its support and to all participants for professionalism and trust.
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