The State Asset Management Agency has announced the initiation of the privatization process for UNG Petro, which involves selling the entire state share in the company's authorized capital.
To facilitate the privatization, a competition has been launched to engage a professional consulting company.
Interested parties are required to submit their commercial proposals based on the Request for Proposal (RfP) by 6:00 PM on June 11, 2023. If multiple parties submit a joint commercial proposal, they must designate a main consultant responsible for coordinating the work with the engaged partner-consultant and assuming overall responsibility.
UNG Petro is the largest gas station chain in Uzbekistan, recognized for selling oil and gas products under the UNG national brand. The retail network of UNG Petro consists of numerous fuel and gas stations located throughout Uzbekistan, with a total of 78 Car Filling Stations across the country.
Previously, it was announced that the privatization process for the Foton plant had also begun. This also comes following the May 30 announcement by President Mirziyoyev that only three banks will remain under state ownership.
Massive privatisation campaign
Uzbekistan’s President Shavkat Mirziyoyev has approved a new privatisation programme for 2023.
The programme lists 1,001 state assets in relation to which holdings will be sold via public auctions. They include 39 large state-owned enterprises (SOEs), eight state banks and shares held by 20 ministries and other state bodies and local authorities.
Among assets defined for sale are:
50 assets of Uzavtosanoat, including auto dealerships (the privatisation of which began back in 2018);
shares in Uzbekistan Railways, Uztemiryulcontainer and Kuprikkurilish Trust;
14 Uzbekneftegaz oil depots, UNG Petro gas stations and a stake in a joint venture with Tatneft;
eight stakes in Uzkimesanoat, including Ammofos Maxam and Maxam-Chirchiq units;
Uztelecom shares in internet providers Buzton and East Telecom (minority stake), as well as in fibre-optic cables plant GOC-UZ;
25% of Uzbek-American joint venture Uzcasemash;
20% of LG CNS Uzbekistan joint venture;
Uztrade;
UzVC Venture Fund;
shares in the hotel "Uzbekistan" (80.1%) and JSC "Photon" (85.6%).
In addition, 1,046 real estate objects owned by the state and companies in which the state has holdings will be put up for auction. They include 150 objects in Tashkent.
The privatisation programme also identifies 40 SOEs with shares that will be put up for sale in a "people's IPO".
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