Information on completion of the prequalification stage for the sale of 99.02% shares of JSC “Ferghanaazot”

Tashkent, Uzbekistan (UzDaily.com) -- As previously reported in the announcement published on 02 June 2022 on the website of the State Assets Management Agency (hereinafter “UzSAMA”), from 02 June to 18 July 2022, UzSAMA accepted applications for prequalification (RfQ) for sale of 99.02% shares in JSC “Ferghanaazot” (hereinafter "the Company"). 

Deloitte company has been attracted as a leading consultant, while the International Finance Corporation (IFC) is acting as a strategic consultant for UzSAMA.

As part of the Company’s privatisation process, UzSAMA’s consultants conducted an extensive marketing campaign, including the distribution of investment teasers to a wide range of international investors and a publication in The Financial Times periodical. As a result, 10 Expression of Interest applications from international investors from Europe, Asia and America have been received, while 5 applicants submitted full prequalification (RFQ) documentation.

All bids received were examined by UzSAMA and its consultants for compliance to the eligibility criteria previously published in the documentation dated June 02, 2022. As a result, 1 of the bidders was not admitted to the next stage of the privatization process due to not meeting the announced eligibility requirements, while all other applicants were admitted to the next stage.

Within the next two weeks, these applicants will be invited to participate further in the privatisation process and will be sent individual Procedures Letter. To confirm their continued participation in the privatisation process, these applicants will be asked to sign a Non-Disclosure Agreement (NDA), after which they will be given access to a Virtual Data Room (VDR), which will include financial and legal information about the Company, as well as an analytical report (VDD) prepared by an international consultant.

UzSAMA would like to thank all bidders who have expressed their interest in the transaction and submitted bids as part of the pre-qualification (RFQ) process and looks forward to further constructive cooperation with bidders who have passed the pre-qualification stage.