The State Assets Management Agency of the republic of Uzbekistan

In accordance with the relevant privatization programs, the State Assets Management Agency announces the commencement of the public sale process for the aircraft refuelling complex (hereinafter referred to as the “Asset”), located at 33A Qum-Ariq Street, Sergeli district, Tashkent city.

 

For the purpose of ensuring an effective privatization process, “Ernst and Young”, an international company, has been engaged as the privatization consultant (hereinafter referred to as the “Consultant”).

 

Information about the Asset

 

The Asset is located at 33A Qum-Ariq Street, Sergeli district, Tashkent city. The total land area is 11.00 hectares, while the total area of buildings and structures is 6,076.0 sq. m. The Asset is connected to utility networks, including gas, water and electricity supply systems.

 

Sale Process

 

The privatization process is open to both local and international participants and will be conducted in two stages:

1. Expression of Interest (EoI);
2. Submission of Binding Offers (BO).

 

EoI Stage Requirements

 

Applicants are required to submit an Expression of Interest (EoI) containing the following information:

1. Brief information about the applicant, including registration details and type of business activity.
2. Information on shareholders/participants holding 5% or more of the charter capital, as well as information on ultimate beneficial owners.
3. Financial statements for the last three years.

 

EoI applications may be prepared, at the applicant’s discretion, in Uzbek, Russian or English and must be submitted to the designated email address no later than 23:59 (Tashkent time) on 23 October 2026.

 

Selection Criteria

1. Sufficiency of financial resources to acquire the Asset;
2. Absence of administrative, arbitration or other legal proceedings that may prevent the applicant from participating in the privatization process;
3. Compliance with Law No. 660-II of the Republic of Uzbekistan “On Counteracting Legalization of Proceeds from Criminal Activities, Financing of Terrorism and Financing of Proliferation of Weapons of Mass Destruction”;
4. The applicant (or, in the case of a consortium, none of its members) is not a state-owned company;
5. Neither the applicant (or, in the case of a consortium, any of its members) nor any of its respective persons is included in the sanctions lists of the European Union, the United States, or major international financial institutions, including the World Bank, the European Bank for Reconstruction and Development and the Asian Development Bank. In addition, as of the application date, applicants must not be sanctioned persons or the subject of any proceedings or investigations conducted by the aforementioned sanctions authorities. Applicants (or, in the case of a consortium, none of its members) and their respective persons must not be directly or indirectly, including through any subsidiary, engaged in any activities that violate the sanctions regimes of the aforementioned institutions and jurisdictions. Furthermore, none of the applicant’s (or, in the case of a consortium, any consortium member’s) principal financing parties or creditors, or their respective persons, may be sanctioned persons or banks or financial institutions owned or controlled by sanctioned persons.

 

Following completion of the Expression of Interest (EoI) stage, a list of applicants proceeding to the next stage will be formed, and the State Assets Management Agency will publish a relevant announcement regarding the outcome of this stage.

 

The Consultant will individually notify all applicants that have expressed interest of the outcome of the process and the next stage by means of a Process Letter.

 

Information on the Binding Offers (BO) Stage

 

Participants admitted to the Binding Offers (BO) stage will be required to enter into a Non-Disclosure Agreement (NDA). Participants will be provided with access to the Virtual Data Room (VDR) and will have the opportunity to review the financial, tax and legal due diligence reports prepared by the Consultant, as well as visit the Asset.

 

Prior to submitting their Binding Offers (BO), participants will be required to sign a Term Sheet setting out the requirements applicable to the privatization and the future operation of the Asset, taking into account the nature of the company’s business activities. In addition, participants will be required to transfer, through their personal accounts opened on the “E-auksion” electronic trading platform, at least 1% of the amount of their Binding Offer as a security deposit (earnest money).

 

Following publication of this announcement, the Consultant will undertake a comprehensive set of measures to promote the Asset, distribute investment teasers and actively engage with investors.

 

The State Assets Management Agency, together with the Consultant, will ensure that the public is informed about each stage of the sale process and that participants are kept informed of the progress of the process.

 

Contact Information

• Daniyar Adigamov, “Ernst and Young” — daniyar.adigamov@parthenon.ey.com, Tel.: +998 50 990-00-98
• Abror Mullajonov, State Assets Management Agency — a.mullajonov@davaktiv.uz, Tel.: +998 (71) 259-22-16

 

Disclaimer

The State Assets Management Agency reserves the right to change the sequence of the sale process, or at any time to decline to sell the Asset to a potential purchaser (purchasers) or to conduct negotiations with them without providing any explanation.

This announcement, or any part thereof, shall not be construed as creating any obligation of any kind on the part of the State Assets Management Agency in connection with the sale of the Asset that may be inferred from the publication of this announcement. The State Assets Management Agency reserves the right, at its sole discretion and at any time and in any circumstances, without assuming any joint or individual liability, to:

(i) change the timing and procedure of the stages of the sale process;

(ii) apply different procedures to different interested parties and/or negotiate with one or more potential purchasers within the timetable and procedures envisaged by the State Assets Management Agency, as well as exclude any other potential purchaser(s) without prior notice;

(iii) suspend the sale process for any specific reason;

(iv) and/or at any time and without providing any explanation, commence, continue or terminate any discussions or negotiations with any potential purchaser(s) in relation to the sale.