The State Asset Management Agency (UzSAMA) of Uzbekistan has announced the sale of the state share in the second grain enterprise since the beginning of the year, for the price of UZS 14bn ($1.1mn).
New Ownership Agreement
The buyer, "Ilyosbek Nilufar Bexruz", has acquired a 58.06% stake in "Turtkuldonmahsulotlari", offering UZS 14bn ($1.1mn) for the asset. As part of the acquisition, the new owner has committed to maintaining the current profile of the enterprise for a period of five years, including retaining the existing grain storage capacity and ensuring the volume of grain in the state reserve complies with prices established by law.
Price Adjustment Mechanism
To facilitate the sale of state shares in grain enterprises, a mechanism has been introduced to gradually reduce the recommended estimated value by 50% when considering price proposals. This adjustment aims to align prices with market realities and promote greater investor interest in acquiring these assets.
Opportunities for Buyers
Currently, UzSAMA has made available 28 grain enterprises and 8 property complexes for prospective buyers. The list of assets available for re-tendering can be accessed through the provided link, offering investors a diverse range of opportunities to participate in the privatization process.
Previous Sales and Presidential Directive
In December 2023, SAMA successfully concluded the sale of state shares in four enterprises for a total of $21.3mn. Following this, President Shavkat Mirziyoyev issued a directive on January 16, ordering the sale of 33 grain enterprises from Uzdonmakhsulot by the year's end, with prices adjusted to reflect market values. The directive aims to address concerns regarding assets remaining unsold for extended periods due to inflated prices.
Continued Progress in Privatization
The ongoing privatization efforts led by UzSAMA underscore Uzbekistan's commitment to fostering a conducive environment for private investment and entrepreneurship. By divesting state shares in grain enterprises and property complexes, the government aims to stimulate economic growth, enhance efficiency, and encourage private sector participation in key sectors of the economy.
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