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18 September 2023

Announcement on attracting a professional consulting company for the privatization 87,7% state block of shares of Uzenergoengineering JSC

The State Assets Management Agency (hereinafter - the "Client"), in accordance with the relevant privatization programs, announces a tender for the selection of a professional consulting company (hereinafter - the "Consultant") on privatization of "Uzenergoengineering" JSC by selling 87,7% state block of shares in the authorized capital of JSC (hereinafter - the "Asset").

All interested applicants are invited to submit their proposals in accordance with the following Request for Proposals (RfP) by 18:00 (Tashkent time) on September 30, 2023.

In the case of a joint commercial proposal, the principal consultant must be named, who is responsible for coordinating the work of the consultant partner involved and assumes responsibility.

Interested consultants are kindly requested to submit proposals in coded form, to the contact address below:

Talat Samandarov - Deputy Head of the Department for Preparation for Privatization and Privatization of State Assets;

Phone: +998-71-259-20-67;

E-mail: tender@davaktiv.uz

Additionally, it is reported that work on the Agreement can be carried out in close cooperation with representatives of consultants, and, if necessary, by creating an additional project team in the Asset.

Disclaimer:

This solicitation does not constitute an obligation to submit a commercial proposal, the Purchaser is not entering into any obligation to accept any proposal or to enter into a contract pursuant to this solicitation. Accordingly, this solicitation does not imply a contract by virtue of the publication of this solicitation and/or the receipt of bids in connection therewith, or by negotiation and discussion with one or more of the selectors with respect to the Transaction.

The materials and information contained herein are intended as a preliminary summary and the most important aspects of the Transaction, as well as a general indication of the scope of work expected of the Sales Consultant.

The selection participants cannot and should not rely on anything other than the sole limited purpose of preparing initial presentations and proposals for the Client in connection with the selection process.

 

Request for proposals for consulting services on privatization of "Uzenergoengineering" JSC (RfP)

Introduction

In accordance with the Decree of the President of the Republic of Uzbekistan from March 24, 2023 №PD-102 provides for the sale of 87,7 % share of "Uzenergoengineering" JSC (hereinafter - the "Transaction").

The sale process must be organized in accordance with the best international practices, taking into account the requirements of the legislation of the Republic of Uzbekistan, industry and individual specifics of "Uzenergoengineering" JSC. For making internal decision of the Seller, the Asset is evaluated in accordance with the legislation.

The Request for Proposals (hereinafter - the "Request") specifies the requirements for the Consultant and the structure of its proposal to be evaluated, also describing the required scope of work to support the Transaction in the annex of this Request. Consultants may enter into a consortium or submit joint proposals to provide the full range of services.

Briefly about the Asset

"Uzenergoengineering" JSC is a specialized organization for the design of power supply and electrification facilities for all consumers located in rural areas, cities and regional centers, including small and medium-sized enterprises, water management facilities and utility complexes located on the territory of the Republic of Uzbekistan.

Charter fund: 13.2 billion UZS;

The legal address of the enterprise: Tashkent city, Yashnabad district, M. ASHRAFY street, 9.

Website: www.uzenergoeng.uz

The expected structure of the Consultants' proposals and the requirements for them

The Consultant's (individual applicant's or Consortium's) proposal must be prepared in Russian/English and must contain the following information:

a) The Consultant's vision for the organization of the work with a detailed description of the proposed actions for the privatization of the Asset. Opinion on the duration of the process, in case the Consultant's recommendations and suggestions will be adequately responded to within a reasonably required time; (10 points);

b) Two-part Commercial Proposal (up to 50 points):

  • fixed fee - in the form of a single figure (including VAT as well as all other costs) and at the same time free of subjective assumptions of the consultant himself;
  • success fee - the Client shall give preference to proposals providing for a success fee in proportion to the value ("success fee") of the Transaction.

In the case of the presentation of the proposal at the price range, its upper limit is taken for the evaluation of the proposal. Possible additional transaction costs (travel, translation, etc.) must be included in the fixed part of the value;

c) Information about the Consultant's experience with transactions involving similar assets, including information about the Consultant's mandates in the CIS region in the period from January 1, 2017 to the present (20 points);

d) Proposal for the organization of the Transaction in terms of governance of the project. Information about the team involved in the proposed Transaction, specifying the names of individuals and information about them: work experience, work experience, general transaction experience and specific transaction experience; (20 points);

e) A written statement of sufficient competence as well as human, time, and material resources to carry out the assigned tasks;

f) Information on whether there is a conflict of interest. Indicate whether the Consultant currently has a mandate for a potential transaction that might present a conflict, should he/she be involved in this Transaction.

Scope of work of the consultant on the privatization process:

I. Market analysis of electrical supply and electrification facilities design services:

  • analysis of the market and prerequisites for the development of the industry in Uzbekistan and in the region, the necessary conditions for the development of enterprises of the industry;
  • analysis of the experience of privatization of industry enterprises in other (including neighboring) countries, the main causes of failures in the privatization of this type of asset, the factors that ensure the success of privatization and further development of the industry;
  • On the basis of the analysis a plan of measures necessary for the successful organization of the processes of privatization of the Asset will be developed.

II. Consultations on pre-sale preparation of the Asset:

  • submission of proposals to improve the investment attractiveness of the Asset, improve the corporate structure and corporate governance based on best practices and a review of comparable peer companies;
  • conducting a complex (tax, legal, financial and environmental) analysis (due diligence) of the Asset;
  • preparation of recommendations on optimal marketing strategy, marketing materials (teaser, information memorandum, procedural letter, etc.) and distribution of information materials to investors;
  • preparation of marketing materials, including investment video, handouts, etc.
  • providing advice on building public relations, answering their questions;
  • reviewing appropriate valuation methodologies and their relevance to investors, providing a value range recommendation;
  • identifying key factors, key indicators and assumptions affecting the valuation, including from an investor's perspective;
  • Eengaging other consultants within the project (if necessary) and coordinating their work.

III. Maintenance of the Transaction:

  • taking all measures aimed at privatizing the Asset, organizing the Virtual Data Room (VDR);
  • coordination with potential bidders, including answering questions from potential buyers;
  • support of the sale process with the preparation of all necessary documentation, including the draft sale and purchase agreement (with translation into Uzbek and, if necessary, into English and Russian);
  • organization of closing and announcement of the Transaction.

 

(1) In the case of a consortium application, please provide the consortium agreement as well as the main consultant (usually called consortium leader) coordinating the application. In this case, the total cost of services must be specified.

(2) If consultants' proposals are scored less than 30 points under a, c and d clauses of The expected structure of the Consultants' proposals and the requirements for them, the proposal is not to be evaluated under b clauses.

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