As previously reported, in accordance with the relevant privatization programs, the State Assets Management Agency has launched an open sales process for 100% state share in the authorized capital of "Republican Design Institute “UzEngineering” LLC (hereinafter - the Enterprise) with the involvement of the consulting company “Abrau Capital” as a privatization consultant.

As part of the privatization process, the Consultant conducted a large-scale marketing campaign. In particular, investment teasers were sent to various investors. As a result, Expression of Interest applications were received from 3 local and international investors.

In turn, all 3 applicants meeting the criteria previously established at this stage were invited by the Consultant to participate in the next stage of the privatization process - submission of Binding Offers (BO).

Within the framework of this stage, a Non-Disclosure Agreement (NDA) was signed, as well as given an opportunity to analyze comprehensive analytical reports (due diligence) on financial, tax, legal and environmental activities of the Enterprise prepared by the Consultant and placed in the Virtual Data Room (VDR), as well as an opportunity to meet with the management body of the Enterprise.

As a result, 2 applicants submitted their Binding Offer (BO) within the deadline.

“Smart Fast Stroy” LLC, which offered the highest price offer, was recognized as the winner of the sales with the condition to pay the redemption value in the amount of 80 billion UZS.

It should be noted that the Buyer's offer is located in the upper part of the indicative price range calculated by the Consultant and exceeds the estimated value of the Enterprise.

The results of the Enterprise privatization were approved by the relevant decision of the State Commission for privatization of state assets and coordination privatization processes.