In accordance with the announcement posted on October 15, 2021 on the official website of State Assets Management Agency, in line with the relevant Presedendtial Decree of the President of the Republic of Uzbekistan about hiring consultants for privatization of "Tashkent" and "Hyatt Regency Tashkent" hotel complexes, proposals from local and international professional organizations as well as consultants were received until October 29, 2021.

During the selection process proposals were received from 6 organizations, including in the form of consortium and were selected on the basis of the financial proposals of the Applicants, their experience in the field, qualification and approaches for the sale of the assets.

As a result of the selection process, KPMG's proposal on organizing the process of privatization of the state assets was highly rated and the company became the winner.

The State Assets Management Agency together with the Consultants engaged will take all necessary measures for transparent and successful sale of assets.

For information, the scope of responsibility of the Privatization Consultant includes analysis of the the state assets and the market segment, preparation of teasers showing the attractiveness of the assets and promotion among potential buyers, preparation of due-diligence reports on financial, tax and legal issues, research of potential buyers, recommendations to the Client on sales strategies and stages, as well as negotiations with potential buyers. Besides, in order to determine the market pice of the assets, independent professional companies will be hired.