The State Assets Management Agency of the republic of Uzbekistan

In accordance with the announcement dated August 14 of this year, the international open sale process for 100% state share in the charter capital of “Universal Mobile Systems” LLC (hereinafter – the Company) is ongoing.

 

It should be reminded that for the purposes of effective and transparent organization of the international privatization process:

• "Rothschild & Co" was engaged as a strategic and financial advisor;
• "KPMG" was engaged as a financial consultant and for financial, tax, and legal due diligence (vendor due diligence);
• "Deloitte" - as an independent appraiser.

 

At the initial EoI stage of the privatization process, within the established deadline, the consultants received Expressions of Interest (EoI) in acquiring the asset from 15 companies (both foreign and local) from the USA, Europe, Arab countries, the Middle East, the Caucasus, East and Central Asia. All applicants were admitted to the next – NBO stage.

 

During the NBO stage, the Consultants continued their efforts to attract additional potential investors and accept EoI applications. Later, as part of the EoI acceptance process, an application was received from another 1 foreign company, which was also admitted to participate in the NBO stage.

 

At this stage, Non-Disclosure Agreements (NDA) were signed with the applicants, and access was provided to a Virtual Data Room (VDR) containing an Information Memorandum prepared by the Consultants with general and analytical information about the Company's activities. In addition, the Consultants provided the necessary answers to questions received from participants.

 

Within the deadline set for the NBO stage – October 15 of this year – 10 applicants submitted Non-Binding Offers (NBO).

 

All participants who submitted applications at the NBO stage will receive individual notifications from the Consultant, and applicants who have advanced to the next stage will receive individual Process Letters from the Consultant with a detailed description of the next stage of the privatization process.

 

Information about the last stage of the process:

 

To prepare their Binding Offers (BO), participants will be given access to a Virtual Data Room (VDR) containing comprehensive analytical reports prepared by the Consultants on the Company's financial, tax, and legal activities (vendor due diligence), as well as the opportunity to visit the Company and be introduced to its activities.

 

In addition, prior to the Binding Offers (BO) being submitted, the Consultant will provide the participants with an Agreement on the basic terms and conditions of the acquisition of the Company and its further activities (Term Sheet) for signing.

 

Binding Offers (BO) will be accepted by the Consultant until 23:59 (Tashkent time) on December 19, 2025.

 

Before the above deadline, participants will also be required to transfer, via their personal account on the “E-auksion” electronic trading platform, at least 1% of the proposed binding price offer as a guarantee payment (deposit). This guarantee payment (deposit) will be returned to participants at the end of the sale process, as well as the guarantee payment (deposit) of the winner of the sale process will be transferred to the Privatization Fund as part of the redemption payment.

 

Information about personal accounts and bank account details opened on the “E-auksion” electronic trading platform will be sent to participants by the Consultant via individual Process Letters.

 

The State Assets Management Agency expresses its gratitude to all participants who have shown interest in the privatization process and submitted applications, and also expresses its confidence in further constructive cooperation with the applicants who have successfully passed the NBO stage.

 

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