Uzbekistan’s state assets agency to privatize two large banks

Finance Materials 21 May 2021 19:21 (UTC +04:00)

BAKU, Azerbaijan, May 21

By Klavdiya Romakayeva - Trend:

Uzbekistan’s State Assets Management Agency (SAMA) announced its intention to sell state blocks of shares in the amount of 100 percent of the authorized capital of Poytakht Bank JSC and Uzagroexportbank JSCB through an open process of selling shares, Trend reports citing SAMA.

Within the framework of this transaction, Grant Thornton and Deloitte were selected as consultants on privatization of JSCB Uzagroexportbank and Poytakht Bank JSC, respectively.

In both cases, the sale will be organized as a competitive bidding process, open to all interested parties, and in accordance with the adopted approach.

The mechanism and process for selling a bank will consist of expression of interest by submitting a package of documents consisting of an application for participation, criteria for selecting participants and choosing a winner, as well as information about the applicant in the form in accordance with Appendix No. 1-3, pre-qualification selection, qualifying selection of commercial and financial proposals and conclusion of the transaction.

Interested parties are invited to submit an application on a special envelope in the form of a letter prepared in English, Russian or Uzbek (at the applicant's discretion) and signed by an authorized representative of the applicant, sent no later than 18:00 Tashkent time on June 20, 2021.


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