The State Assets Management Agency (hereinafter - "UzSAMA"/"Client"), in accordance with the relevant privatisation programmes, announces the start of an open sales process for 100% state share in the authorised capital of Invest Group Centre LLC (hereinafter - "Asset") through the attracting professional consulting company.

Portfolio Investments (hereinafter - the “Consultant”) was selected by UzSAMA as a privatization consultant to implement the privatization process based on international best practices.

Briefly about the Asset

Invest Group Centre LLC - the main activity of the Company is management of sports facilities intended for various sports, founded in 2008.

• Authorized capital: 4.11 billion soums;
• The Company is located at 16 Akkurgan Street, Mirzo-Ulugbek district, Tashkent city.
• Manages sports and recreation complex, outdoor and indoor swimming pool, sports training halls, soccer fields, a mini-football field with artificial turf and a tennis court.

Information about the sales process:

The Asset sale process is based on the method of public invitation to negotiate, which is open to all interested parties (hereinafter - Participants).

The sales process will be carried out in two stages, including the Express of interest (Express of interest) and collection of Binding offers (BO) stages.

Conditions for the acquisition of the Asset and its further activity:

1. Maintain the type of activity of sports and recreation complex which are on the balance sheet of the Asset for at least 10 (ten) years.
2. Do not allow the construction of buildings and structures on the territory of the sports and recreation complex which are on the balance sheet of the Asset, which do not correspond to the sports and recreational activities (except for repair work), and to carry out any repair and renovation work on the territory of the facility strictly with the permission of the urban planning council.

About the implementation of the Express of Interest stage of the sales process:

Candidates are invited to express their interest in the form of an Application (Express of Interest) including the following information:

1. Information on the applicant,  for an individual: a copy of passport/ID-card, as well as data confirming the financial feasibility of acquiring the asset;
2. Information on the applicant, for a legal entity:

• information on the enterprise/company, including a copy of the founding documents (charter) and registration certificate, as well as TIN data;
• Information on shareholders/participants, as well as the ultimate beneficiary, indicating the share of the founder/participant/shareholder with a share of more than 5% in cases where the founder/participant/shareholder is more than one;
• Financial statements for the last 3 years (if the company has been established for less than 3 years, financial statements for the period of its operation).

The Expression of Interest can be prepared in Uzbek, Russian or English languages until 18:00 (Tashkent time) November 1, 2024 and sent to the following e-mail address: munir.yakubov@piamg.uz.

As part of this sales stage, in order to attract potential investors by the Consultant investment teasers distribution works are carried out.

Received applications will be sorted according to the following criteria:

• Sufficient financial resources to purchase the asset;
• must not be an enterprise with state participation (a business entity with a state share in the authorized fund (authorized capital) of more than fifty percent or a business entity with the size of the state share in the authorized fund (authorized capital) greater in relation to the share of each other shareholder (participant) of the business entity, as well as a state unitary enterprise);
• the absence of administrative, arbitration or other legal proceedings that may prohibit participation in the privatization process;
• Compliance with the Law of the Republic of Uzbekistan No. 660-II "On combating the legalization of proceeds from criminal activities, the financing of terrorism and the financing of the distribution of weapons of mass destruction";
• The applicant (in the case of a consortium, none of the members of the consortium) and none of its related persons must not be included in the list of sanctions of the European Union and the United States, as well as major international financial institutions (World Bank, European Bank for Reconstruction and Development, Asian Development Bank). However, on the date of application, the applicants should not be the subject/(s) of any case or investigation by the sanctioned person/(s) or the sanctioning authorities mentioned above. Also, the applicants (in the case of a consortium, none of the members of the consortium) and none of its related persons must not be involved in any activity (directly or through any of its subsidiaries) that is contrary to the sanctions regime of the aforementioned institutions and countries, and the Applicant (consortium) in case, none of the members of the consortium), as well as any of its related persons, should not be the main financing parties or creditors of the sanctioned persons or banks or financial institutions owned or controlled by the sanctioned persons.

The contact persons for this project are:

• Munir Yakubov, director of “Portfolio Investments”: munir.yakubov@piamg.uz, tel.: +998(90) 901-65-59.
• Shokhruh Ohunov, Head of department of the UzSAMA: tender@davaktiv.uz, tel.: +998(71) 259-20-23.

In turn, before submitting binding bids, bidders who have passed the Binding Bid (BO) stage are obliged to pay at least 1% of the proposed binding bid price as a guarantee payment (deposit).

The results of each stage of the sales process shall be officially published on UzSAMA`s website and the Consultant shall send official individual notification to each participating candidate via Process letters.

DISCLAIMER

The State Assets Management Agency reserves the right to change the sequence of the privatization process or refuse to sell to any potential buyer(s) or negotiate with them at any time without explanation.

This announcement, or any part of its content, should not be taken as a form of obligation on the part of the State Assets Management Agency, “Portfolio Investments” in relation to the Assets sale, as one might assume in connection with the publication of this announcement. The State Assets Management Agency and “Portfolio Investments” reserves the right, in its sole discretion, at any time and in any respect, without assuming joint or individual responsibility:

(i) Change the deadline for submission of applications;

(ii) Follow different procedures with respect to different stakeholders and/or negotiate with one or more potential buyers within the schedule and procedure established jointly by the State Assets Management Agency and “Portfolio Investments”, to the exclusion of any other potential buyer(s) without prior notice;

(iii) Stop the sale process for any reason;

(iv) Stop all discussions and negotiations with any potential buyer(s) in relation to the Transaction at any time and without explanation.