The State Assets Management Agency of the republic of Uzbekistan

In accordance with the relevant privatization programs, State Assets Management Agency (hereinafter - the UzSAMA) announces the start of the sale process of 61,6% state share in the authorized capital of "ToshuyjoyLITI" JSC (hereinafter – Asset/Company) by privatization method of public invitation to negotiations.

As previously reported, the company "Abrau Capital" (hereinafter - Consultant) carries out this Agreement as a consultant on privatization of the UzSAMA.

Brief information about the asset:

"ToshuyjoyLITI" JSC:

• The Institute develops normative documents in construction, seismic resistance of civil structures, development of model projects of civil structures;
• development of project-estimate documents for the new construction, reconstruction and capital repair of buildings and structures of various purposes, engineering networks, as well as highways and road infrastructure;
• inspection of the technical condition of buildings and structures;
• development of projects for restoration and strengthening of load-bearing structures of buildings and structures;
• carries out scientific research works in the field of construction of earthquake-resistant buildings, including project-research works.

About the sales process:

The sales process for the Asset is based on a public invitation to negotiations method, which is open to all interested parties (hereinafter - Participants).

The process of selection of buyers will be carried out in two stages including Express of interest and Binding offer (BO) stage, at the final stage buyers are required to make a guarantee payment that is not less than 1% of the amount of the proposed binding price offer.

About the implementation of the current stage of the sales process:

Candidates are invited to express their interest in the form of an Application (Express of Interest) including the following information:

1. Brief information about the participant (including STIR, type of activity);
2. Information on shareholders/founders (indicated by the share of ownership) and ultimate beneficiaries with a share of more than 5 percent in the authorized capital of the participant;
3. Financial report on the last 3 years of activity.

The Expression of Interest can be prepared in Uzbek, Russian or English languages until 18:00 (Tashkent time) on August 22, 2024 and sent to the following e-mail address: almo@abraucapital.com.

As part of this sales stage, in order to attract potential investors by the Consultant investment teasers distribution works are carried out.

Received applications will be sorted according to the following criteria:

• Sufficient financial resources to purchase the asset;
• the absence of administrative, arbitration or other legal proceedings that may prohibit participation in the privatization process;
• Compliance with the Law of the Republic of Uzbekistan No. 660-II "On combating the legalization of proceeds from criminal activities, the financing of terrorism and the financing of the distribution of weapons of mass destruction";
• The applicant (in the case of a consortium, none of the members of the consortium) and none of its shareholders/participants must be a public company or a company with a public share in the share capital;
• The applicant (in the case of a consortium, none of the members of the consortium) and none of its related persons must not be included in the list of sanctions of the European Union and the United States, as well as major international financial institutions (World Bank, European Bank for Reconstruction and Development, Asian Development Bank). However, on the date of application, the applicants should not be the subject/(s) of any case or investigation by the sanctioned person/(s) or the sanctioning authorities mentioned above. Also, the applicants (in the case of a consortium, none of the members of the consortium) and none of its related persons must not be involved in any activity (directly or through any of its subsidiaries) that is contrary to the sanctions regime of the aforementioned institutions and countries, and the Applicant (consortium) in case, none of the members of the consortium), as well as any of its related persons, should not be the main financing parties or creditors of the sanctioned persons or banks or financial institutions owned or controlled by the sanctioned persons.

After the acceptance of applications has been completed, the Consultant will individually inform the participants about the organization of the next stage of the sales process by sending a Process Letter.

The contact persons for this project are:

• Olimjon Alimov,"Abrau Capital" company director: almo@abraucapital.com, tel.: +998(97) 783-75-27;
• Talat Samandarov, Head of  division of the UzSAMA: tender@davaktiv.uz, tel.: +998(71) 259-20-67.

Conditions for the future activity of the state asset:

The buyer of the state asset undertakes to maintain the main activity of the Company for a period of not less than 5 (five) years.

In turn, prior to submission of binding offers with the participants of sales who passed to the stage of submission Binding Offers (BO), an Agreement with the main terms for acquisition of the Asset will be signed.

About the next stages of the sales process:

With potential investors progressing to the next stage of accepting Binding Offers (BO), a Non-Disclosure Agreement (NDA) is signed and access is provided to the Virtual Data Room (VDR), where information on the Asset's performance and analytical data prepared by the Consultant is stored, as well as the opportunity to visit the Asset and ask questions of its management body.

UzSAMA provides the public with additional information about each stage of the privatization process.