The State Assets Management Agency of the republic of Uzbekistan

In accordance with the announcement dated June 9 of this year, an open international privatization process for 100% state shares in the charter capital of LLC “Universal Mobile Systems” (hereinafter — “MobiUz”) has been launched.

 

Over the past period, as part of large-scale measures to inform and promote this privatization process, the lead strategic and financial consultant for the transaction – the international investment bank “Rothschild & Co” and the financial consultant – the international firm “KPMG” (hereinafter — the Consultants), held over 100 individual meetings with potential strategic and financial investors.

 

As a result, by the established deadline of 18:00 (Tashkent time) on August 1, 2025, the Consultants received Expressions of Interest (EoI) from 15 companies (foreign and local) from the USA, Europe, Arab states, the Middle East, the Caucasus, and East and Central Asia.

 

The submitted EOIs were reviewed by the Consultants for compliance with the previously established criteria for this stage:

• Sufficient financial resources;
• Absence of any legal obstacles;
• Compliance with legislation on anti-money laundering and counteracting the financing of terrorism;
• Absence from sanctions lists of the European Union, the United States, and international financial institutions;
• Not a state-owned company.

 

Based on the analysis conducted, the Consultants recommended admitting all applicants to the next stage of the privatization process - submission of Non-Binding Offers (NBO).

 

At the same time, to enhance competition and the effectiveness of the sale process, the State Asset Management Agency reserves the right to admit additional potential investors to participate in the Expression of Interest (EoI) submission process until the end of the NBO stage.

 

On the next stage – submission of NBOs – the following activities will be carried out:

• Signing of Non-Disclosure Agreements (NDA) with applicants;
• Providing access to a Virtual Data Room (VDR), which will contain an Information Memorandum prepared by the Consultants, including general and analytical information about MobiUz’s operations; a Financial Model containing assumptions validated by management and confirmed by an independent consultant;
• Ensuring that applicants have the opportunity to conduct necessary analyses and review MobiUz’s operations.

 

The Consultants will individually send all applicants who submitted EOIs detailed information about the mechanism for participating in the NBO stage via a Process Letter.

 

NBOs will be accepted by the Consultants until 23:59 (Tashkent time) on October 15, 2025.

 

For additional information, please contact:

• Oleg Pushkarev, Director at “Rothschild & Co”: oleg.pushkarev@rothschildandco.com; tel.: +971 50 645 8679
• Farhad Babaev, assistant director at “Rothschild & Co”: fara.babaev@rothschildandco.com; tel.: +971 56 218 0356
• Saltanat Sandykbayeva, Partner at KPMG in Uzbekistan: ssandykbayeva@kpmg.com; tel.: +998 90 099 21 20
• Shokhrukh Okhunov, Head of Department at the UzSAMA: sh.oxunov@davaktiv.uz; tel.: +998 71 259 20 23

 

The State Asset Management Agency expresses its gratitude to all participants who have shown interest in the privatization processes and looks forward to constructive cooperation with the applicants who have successfully passed the first stage of the process.

 

Disclaimer

The State Asset Management Agency reserves the right to change the sequence of the sale process or to refuse the sale to any potential buyer(s) or to cease negotiations with them at any time without explanation.

This announcement, or any part of its content, should not be considered as a form of commitment by the State Asset Management Agency regarding the sale of the Asset, which might be inferred from the publication of this announcement.

The State Asset Management Agency reserves the right, at its sole discretion, at any time and in any respect, without assuming joint or individual responsibility:

(i) to amend the deadlines for submission of Expressions of Interest, NBOs, etc.;

(ii) to follow different procedures for different interested parties and/or to negotiate with one or more potential buyers within the schedule and procedure jointly determined by the State Asset Management Agency, excluding any other potential buyer(s) without prior notice;

(iii) to terminate the sale process;

(iv) and/or to terminate any discussions and negotiations with any potential buyer(s) regarding the sale process at any time and without explanation.