Tashkent, Uzbekistan (UzDaily.com) -- The State Assets Management Agency of the Republic of Uzbekistan announced its intention to sell 100 % of state shares in the charter capital of "UZPAYNET" LLC through a competitive sale process  in accordance with the privatization programs.

The Consortium of Companies ABRAU CAPITAL and CENTIL act as the leading consultant of the UzSAMA on the Transaction.

"UZPAYNET" LLC has been operating in the Uzbek market since 2005 as one of the largest payment organizations. The company is the owner and developer of the payment system and the PAYNET trademark.

Currently, over 390 service providers accept payments through the service — mobile communications, Internet, housing, insurance, television, taxi, etc.

PAYNET closely cooperates with local banks – the service range of the payment system includes such banking services as "Cash withdrawal from the card", "Money transfers", "Payment by bank details", "Payment of loans", etc.

More than 1.3 million transactions through 25 thousand payment acceptance points and the mobile application are carried out.

The sale is organized on the basis of competitive sale process and open to all interested parties.

Currently, Participants are invited to express their interest in the form of an Expression of Interest Application (Expression of Interest), which includes the following information:

Brief information about the Participant (including TIN, type of activity)

Information about shareholders/participants holding more than 5% of the share in the authorized capital of the Participant (with indication of the ownership fraction), as well as the final beneficiaries

Financial statements (preferably in accordance with IFRS) for the last 3 years.

Expression of Interest can be prepared in Uzbek, Russian or English (at the discretion of the Participants), and must be sent to the following e-mail addresses: almo@abraucapital.com, dilru@abraucapital.com.

The deadline for submission of Expression of Interest is no later than 7 September 2022, 18:00 Tashkent time.

The received applications will be sorted in accordance with the following criterias:

sufficient financial resources to acquire a state share;

absence of any judicial, administrative, arbitration or other proceedings, the result of which may be prohibition on participation in the privatization process;

compliance with the Law of the Republic of Uzbekistan No.660-II (as amended on January 15, 2019) "On countering the legalization of proceeds from criminal activity, the financing of terrorism and the financing of the proliferation of weapons of mass destruction".

Thereafter, the detailed sales process and conditions will be additionally informed to the Applicants that send their expression of interest.

A Non-Disclosure Agreement (NDA) will be signed with potential investors who are qualified for the next step, and access will be granted to a Virtual Data Room (VDR) where general information about the Asset’s activities will be available.

Based on the results of the review of applications and the information attached, Participants will be personally informed about the next steps by the Consultant.