According to the relevant privatization programs, based on the results of the sales process of 51,48% state block of shares in the authorized capital of Uzbekiston Shampani JSC (hereinafter - the Enterprise), organized with the attraction of a professional consultant, the State Assets Management Agency informs about the following.
Accordingly, on the basis of a competitive selection process, the State Assets Management Agency attracted an international company KPMG (hereinafter - the Consultant) as a consultant on privatization.
As part of the privatization process, the Consultant conducted extensive marketing activities both locally and internationally, including sending investment teasers to various investors (Investor sounding), involving the Consultant's wide network of investors.
As a result, the Consultant received 5 Expressions of Interest from investors.
The applications were reviewed to ensure that there were no administrative, arbitration or other legal proceedings that could prohibit the applicants from participating in the privatization process and that they were not included in the sanctions list of the European Union, the United States and major international financial institutions.
Further, 4 applicants were invited to the next stage of the privatization process - submitting Binding Offers (BO). At this stage, the applicants were signed a Non-Disclosure Agreement (NDA) and given the opportunity to review the comprehensive due diligence reports on the financial, tax, legal and environmental activities of the Enterprise prepared by the Consultant and placed in the Virtual Data Room (VDR). At the same time, all applicants were given the opportunity to organize meetings with the management of the Enterprise and familiarize themselves with the Enterprise's activities.
It is worth noting that Euro Pack LLC (hereinafter - the Buyer), which expressed the highest price offer among all received offers, capable of ensuring stable development of the company's activity in the future and having the potential to form full duration of production cycles, fully met the established requirements to purchase 51,48% state block of shares in the authorized capital of Uzbekiston Shampani JSC and was recognized as the winner of the sales with the purchase price of 72.0 billion UZS.
At the same time, the Buyer's offer is at the upper end of the Enterprise's indicative price range calculated by an international consultant and exceeds the Enterprise's appraised value.
The results of the Enterprise privatization were approved by the relevant decision of the State Commission on privatization of state assets and coordination of privatization processes.
Also, in addition to the purchase price, the Buyer undertakes to invest 18.5 million USD in 2024-2025 for the development of the Enterprise, including reconstruction and modernization of production capacities, installation of equipment for the production of cognac alcohol and oak barrels for their storage, as well as, in order to develop gastronomic tourism and based on the effective experience of analogous advanced production, organization of restaurant and degustation room on the territory of the Enterprise, organization of grape plantation in Parkent district and creation of wine tourism center.
For reference: Euro Pack LLC is a manufacturer of glass and plastic containers for alcoholic beverages.
