Under the agreement between the Government of Uzbekistan and the World Bank, the World Bank's Institutional Capacity Building project envisages assistance in enhancing the privatisation process in Uzbekistan.
UzAssets Investment Company JSC under the State Assets Management Agency of the Republic of Uzbekistan has been included in the list of beneficiary of this project by the World Bank.
In accordance with the relevant Presidential decrees, UzAssets Investment Company JSC is selling its stakes and assets in a number of state-owned enterprises in line with the best international practice and with the assistance of qualified consultants.
In order to provide further legal support to this process, as well as to ensure compliance of the sale process with the Uzbek legislation and best international practices, and having received the financing from the World Bank, UzAssets Investment Company JSC has announced a tender to select a legal consultant.
Bids have been received from the UK, USA, Spain, Poland, Ukraine, Georgia, Kazakhstan and Uzbekistan law firms, as well as from consortia of consultants.
Based on the assessment of these companies' competence in asset privatisation, international experience, legislative practice in Uzbekistan, and its goodwill, Dentons, the international law firm, was announced as the winning bidder.
Dentons, the world’s largest law firm, has extensive experience in advising on assets privatisation both in Uzbekistan and Europe. Dentons' highly qualified international and local consultants, who are also ranked by Chambers, The Legal 500 and IFLR1000, will be engaged in this project:
- Arkadiusz Krasnodębski – Poland Managing Partner, with over 20 years of experience in advising on privatization and M&A in the Eastern Europe. His client portfolio also includes major international power groups involved in the privatisation and operation of energy sector companies.
- Rob Irving – Partner, Budapest, and Co-Head of Europe Private Equity group, with over 30 years of experience in advising on privatization and M&A deals in the Central and Eastern Europe and South-Eastern Europe as well as Turkey. He has actively participated in the implementation of the privatisation programmes in the Czech Republic and Slovenia.
- Eldor Mannopov – Uzbekistan Managing Partner, with 15 years of experience in advising on various aspects of Uzbek legislation, including corporate law, privatisation and M&A. He participates in the projects for further development of Uzbek legislation, including those financed by the international financial institutions.
- Bobur Shamsiev – Partner, Tashkent, with over 20 years of experience in the legal sector, including advising on aspects of Uzbek legislation as privatisation, public procurement, contracts related to the construction, energy and oil and gas sectors. He also participates in the projects for further development of Uzbek legislation, including those financed by the international financial institutions.
We would like to mention that Dentons, together with other consultants, has been advising on the project for the designing of the legal framework for privatisation in Uzbekistan. Dentons client portfolio includes state authorities, large international and local companies from various industry sectors, energy, construction, banking, transportation and infrastructure, life sciences and manufacturing.
