As it was informed earlier, acceptance of non-binding offers (NBO) in the process of privatization of Lotte City Hotel Tashkent Palace Hotel (hereinafter - the Hotel) was carried out till 18:00 (on Tashkent time) on 14 October, 2022.

In accordance with the deadline, 9 out of 13 applicants submitted their non-binding offers (NBOs) to the international privatization consultant KPMG.

These proposals have been reviewed by KPMG for compliance with the requirements of this stage, including solvency. Based on the recommendation of KPMG, 6 applicants were qualified to participate in the next stage of the Binding Offer (BO) process.

KPMG will send a Process Letter to the applicants, with information on the processes for the next stage. Applicants who have confirmed their participation in the further privatization process will have access to a Virtual Data Room (VDR), which contains independent analytical reports on financial, tax, legal and environmental analysis (VDD) prepared by an international consultant. Additionally, applicants will have the opportunity to meet with Hotel management both offline and online.

Binding offers (BO) will be accepted by KPMG till 18:00 (on Tashkent time) on November 15, 2022.

The State Assets Management Agency and the international company KPMG would like to thank all participants, who have shown interest through participation in the non-binding offers (NBO) stage, and expresses confidence in further favorable cooperation with the applicants, who have successfully passed this stage of the Asset purchase.