The State Asset Management Agency of Uzbekistan has announced the opening of applications for the privatization of 100% of the Neftgazmontaj company.
The consulting firm Mosaic Financial is advising on the transaction. Interested parties are invited to submit expressions of interest (EOI) in Uzbek, Russian, or English. Applicants must provide comprehensive details, including information about shareholders or founders with more than a 5% stake and ultimate beneficiaries. Additionally, the application should include financial statements for the last three years.
Successful applicants who advance to the second stage of the bidding process will be required to submit a binding offer and pay a deposit of at least 1% of their proposed value. These participants will also gain access to detailed information about Neftgazmontaj after signing a non-disclosure agreement.
As part of the conditions of the sale, the buyer will be obligated to maintain the company's operational profile for five years. Additionally, there will be restrictions on staff reductions and job cuts for the first two years following the transaction.
Neftegazmontaj was established in 2004 and specializes in construction work related to distribution engineering structures, primarily within the oil and gas industry. The company has an authorized capital of $4.27mn. Its founders include prominent entities such as Uzbekneftegaz, Uztransgaz, Tashneftegazstroy, Bukharagazpromstroy, Yuggazstroy, and Mubarekneftegazmontazh. Neftgazmontaj is well-equipped, boasting over 650 units of vehicles and equipment, including construction, earthmoving, drilling, and lifting machinery from leading manufacturers such as Volvo, Caterpillar, Liebherr, Renault, and Komatsu.
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