The State Assets Management Agency of the Republic of Uzbekistan (hereinafter – “UzSAMA” or “Seller”) announces its intention to sell 51 % shares in the authorized capital of "Bektemir-alcohol experimental plant" JSC (hereinafter referred to as “Company” or “Asset”) through a competitive sale process (hereinafter – “Deal” or “Transaction”).

The Consortium of Companies ABRAU CAPITAL and CENTIL acts as the leading consultant of the UzSAMA on the Transaction.

Brief information about the Company

JSC "Bektemir-alcohol experimental plant" was founded in 2007 and ranks second in terms of production capacity (1,930 thousand dal/year) in the alcohol industry of Uzbekistan among 4 major producers.

• The Asset is located in the Bektemir district of Tashkent. The total area of the production site is 1.7 hectares.
• The main type of the Asset's product is food grade alcohol. Depending on the degree of purification, the range of products "Alpha", "Lux" and "Higher purification" is produced.
• Alcoholic products of the "Alpha" and "Lux" degrees are used for the preparation of alcoholic products of the premium and super-premium segments;
• The number of employees comprise~230 people, the production capacity of the enterprise is 1,930 thousand dals per year. The Company demonstrates high growth rates of revenue and net profit. Revenue for the period from 2018 to 2020 increased from 88,3  billion soums to 196.3 billion soums, as well as net profit – from 8.3  billion soums to 16.5 billion soums, respectively.

Sale process description

The sale is organized on the basis of competitive sale process and is open to all interested parties (hereinafter referred to as "Participants").

Currently, Participants are invited to express their interest in the form of an Expression of Interest Application (“Expression of Interest”), which includes the following information:

• Brief information about the Participant (including TIN, type of activity);
• Information about shareholders/participants holding more than 5% of the share in the authorized capital of the Participant (with indication of the ownership fraction), as well as the final beneficiaries;
• Financial statements (preferably in accordance with IFRS) for the last 3 years.

Expression of Interest may be prepared in Uzbek, Russian or English (at the discretion of the Participants), and must be sent to the following e-mail addresses: almo@abraucapital.com, snaz@abraucapital.com, dilru@abraucapital.com.

The deadline for submission of Expression of Interest is no later than May 4, 2022, 18:00 Tashkent time.

Based on the results of the review of applications and the information attached, Participants will be personally informed about the next steps.

UzSAMA reserves the right to change the sequence of the sale process or to refuse to sell to or negotiate with any potential buyer(s) at any time without explanation.

This announcement, or any part of its contents, should not be construed as a form of commitment on the part of UzSAMA, Company, ABRAU CAPITAL and CENTIL with respect to the sale of the Company, which could be inferred from the publication of this announcement. UzSAMA reserves the right, in its sole discretion, at any time and in any respect, without assuming joint or several liabilities to:

(i) make changes to the application deadline;

(ii) follow various procedures with respect to various interested parties, and/or negotiate with one or more potential buyers within the framework of the schedule and procedure provided jointly by the UzSAMA, the Company, ABRAU CAPITAL and CENTIL with the exclusion of any other potential buyer (buyers) without prior notice;

(iii) terminate the sales process for any reason; and/or

(iv) terminate any discussions and negotiations with any potential buyer(s) with respect to the Transaction at any time and without giving a reason.