BAKU, Azerbaijan, Sept. 20
By Fakhri Vakilov – Trend:
The investment company UzAssets under the State Assets Management Agency of Uzbekistan has announced its intention to sell its stake in the Trest-12 construction company, Trend reports citing Spot.uz.
As part of this deal, with the consulting support of Deloitte, the state wants to sell its 51.12 percent. The sales process consists of two stages: expression of interest and the qualification selection of participants; consideration of commercial and financial proposals.
The application must be submitted by October 17. On October 31, a short-list will be drawn up of those who were able to pass the first stage. Potential buyers will sign the NDA and receive detailed information about the company. The transaction itself will take place in accordance with the rules of the stock exchange.
Potential buyers must meet the requirements - to prove solvency, have a plan for the development of the company, and more.
Trest-12 is one of the largest construction companies in Uzbekistan, founded in 1979.
The base of the company is located in Tashkent.
Trest-12 has been involved in the construction of a number of iconic properties, including the buildings of the Cabinet of Ministers, the National Library, the University of Westminster, the Hyatt Regency Hotel, and the GM Powertrain plant.
Now the company is working on the International Islamic Center, an automobile assembly plant in Jizzak, the Embassy of Uzbekistan in Kazakhstan, etc.
The portfolio of ongoing projects will fully completed by the end of 2022.
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