UET Invest stroke a deal to purchase 100% stake in Avtooyna auto glass manufacturer for 200.5 billion UZS (approximately $15.5 million), the State Assets Management Agency (SAMA) said. The company is owned by UET Construction, which had previously purchased the Chirchik metal alloy plant.
The privatization process was facilitated by advisors from Portfolio Investments, who received expressions of interest from eight local and international investors. Four of them sent binding offers within the deadline, and UET Invest was selected as the winning bidder.
According to the deal, UET Invest will be required to pay 35% of the purchase price within one month after signing contract. The company is also obligated to maintain the plant’s production profile for at least ten years. Additionally, the buyer must comply with licensing agreements for technical support from a supplier approved by General Motors, and with the requirements of the Master Alliance agreement governing the use of GM-related technologies.
The offered price falls within the upper range of the indicative price range determined by the consultants and exceeded the asset’s appraised value. The State Privatization Commission has approved the results of the tender.
