Tashkent, Uzbekistan (UzDaily.com) – HAVVO GROUP will acquire 85.58% of the state share in the charter capital of Foton JSC. This was announced by the State Assets Management Agency.

According to the agency, HAVVO GROUP was declared the winner of the auction, offering a purchase price of 151 billion soums.

ABRAU CAPITAL acted as the privatization consultant.

As a result of the privatization process, HAVVO GROUP emerged as the auction winner with the highest bid.

In the future, HAVVO GROUP plans to increase the production volumes of the enterprise, expand the range of products and their geographical distribution, enhance management efficiency, and implement modern corporate management systems to ensure the stable development of the enterprise.

It should be noted that HAVVO GROUP’s bid is at the upper end of the indicative price range calculated by international consultants and exceeds the assessed value of the enterprise.

The results of the privatization of the enterprise were approved by the State Commission for Privatization of State Assets and Coordination of Privatization Processes.

In 2023, Foton produced 14.5 thousand units of products, with a net income of 36.4 billion soums, net profit of 1.4 billion soums, net assets of 20.1 billion soums, and liabilities of 1.8 billion soums.