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    Business

    Uzbekistan announces privatization process for 'Biokimyo' JSC, inviting expressions of interest from potential buyers

    Uzbekistan announces privatization process for 'Biokimyo' JSC, inviting expressions of interest from potential buyers

    The State Assets Management Agency (UzSAMA) has initiated the privatization process for 'Biokimyo' JSC and is now accepting applications for the Express of Interest stage. As part of the privatization program, the government intends to sell its 51% stake in the company.

    UzSAMA has appointed ABRAU CAPITAL as the privatization consultant for this transaction. 'Biokimyo' JSC, established in 2007, has been a prominent supplier of ethyl and food alcohol in Central Asia. The company occupies a total area of 18.92 hectares and has a share capital of 9.6 billion UZS. It boasts a capacity of producing 1,830 thousand dal/year.

    Photo: Biokimyo headquarters entrance
    Source: Biokimyo AJ

     

    Interested parties are invited to submit Express of Interest applications, which should include brief information about the applicant, details of shareholders owning over 5% of the company's authorized capital, and financial statements for the past three years. The applications can be prepared in Uzbek, Russian, or English and should be sent to the designated email addresses.

    The deadline for submitting Express of Interest applications is August 15, 2023, at 18:00 (Tashkent time). The received applications will be evaluated based on criteria such as the financial capability to acquire the asset, compliance with relevant laws and regulations, and absence of legal proceedings that could hinder participation in the privatization process.

    Successful applicants will proceed to the next stage, which involves the submission of non-binding offers (NBO). They will be required to sign a Non-Disclosure Agreement (NDA) and gain access to a Virtual Data Room (VDR), where they can review the Information Memorandum prepared by ABRAU CAPITAL. The Information Memorandum will provide detailed information necessary for the preparation of indicative non-binding offers for the purchase of the company.

    Daryo reported on July 12 that the President of Uzbekistan had announced the implementation of a new system to attract and utilize investments, directing $12.1 bn towards expediting work on approximately 1500 investment projects. 

     

    Follow Daryo's official Instagram and Threads pages to keep up to date on world news.

    18.07.2023, 11:58   Comments (0)   811
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