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08 July 2022

Announcement on attracting a professional consulting company for the privatization of «UzAuto TRAILER» LLC

The State Assets Management Agency of the Republic of Uzbekistan (hereinafter – the UzSAMA/The Seller) announces the selection of a professional consulting company (hereinafter – Consultant) for the privatization of the “UzAuto TRAILER” LLC in accordance with the relevant privatization programs.

All interested applicants are invited to submit their commercial proposals based on this Request for Proposals (RfP) no later than 18 July 2022.

If a joint proposal is submitted, a key consultant must be named who is also responsible for coordinating the work of the consulting partner involved.

Interested Consultants are asked to deliver a commercial offer to the contact addresses listed below:

Jamshid Juraev, Head of the Department of Privatization of the State Assets Management Agency of the Republic of Uzbekistan;

Tel.: + 998-71-259-22-10; e-mail:privatization@davaktiv.uz;

Shokhruh Okhunov, Head of the department for ensuring the coordinated actions of the State Assets Management Agency of the Republic of Uzbekistan;

Tel.: +998-71-259-21-87; e-mail: cooperation@davaktiv.uz.

It is expected that the work on the Transaction will be carried out in close cooperation between the representatives of the Consultant, the Seller and the Asset, if necessary, with a visit to the Asset and providing practical assistance to the Asset team in data collection.

 Disclaimer

This request does not constitute a commitment to submit an offer, the Seller does not give any obligation to accept any offer or conclude any contract in accordance with this Request. Accordingly, this Request does not imply the conclusion of a contract by virtue of the publication of this Request and/or receipt of applications in connection with it, or through negotiations or discussions with one or more selection participants regarding the Project.

The materials and information contained in this document are intended to serve as a preliminary summary of only the most important aspects of the Project and a general indication of the scope of work that can be expected from a Privatization Consultant.

The Seller reserves the right to decide on the sale process, including on the basis of their recommendations.

 Request for Proposals (RfP) for consultant services for privatization of «UzAuto TRAILER» LLC

Introduction

In accordance with the Presidential Decree from March 18, 2022 № PD - 168 it is stated to privatize of " UzAuto TRAILER " LLC by selling 100.0 % of state share (hereinafter - the Asset).

The sale process should be organized according to the best foreign and local practice, considering the industry and individual specifics of the mobile telecommunications market and the requirements of the legislation of the Republic of Uzbekistan, for the decision of the Seller, an independent assessment of the Asset in accordance with the law with the national legislation, on the basis of financial statements prepared in accordance with International Financial Reporting Standards (IFRS).

The required scope of work of the Privatization Consultant to support the Transaction is described in the attachment to this Request. 

 

Briefly about the Asset.

UzAuto TRAILER LLC is a manufacturing enterprise which renders modern services in the sphere of trailer equipment and different types of superstructures for cargo chassis. Design capacity of the plant is 3000 units: 2000 units - semitrailers and 1000 units of superstructures on truck chassis, also mastered the production of a wide range of automobile equipment for the various sectors of the economy of the republic. UzAuto TRAILER LLC aims to sell its products not only in the domestic market of Uzbekistan, but also and in neighboring countries of Central Asia: Kazakhstan, Azerbaijan, Afghanistan, Turkmenistan and Kyrgyzstan.

The central office of the company "UzAuto TRAILER" LLC is located in Samarkand region, Jambay district, Tashkent street, 1. The commercial launch of the vehicle manufacturer took place on 6 June 2012.

According to the results of 2021, the company received net revenue of 626.2 billion soums and net profit of 53.0 billion soums. The total amount of net assets is 158 billion soums. The number of jobs created is 430.

 Expected structure of Consultants’ proposals and requirements for them

Preference is given to a consultant with relevant knowledge and experience in automotive industry.

The proposal of the Consultant (individual applicant or consortium) must be prepared in Russian/English or Uzbek, contain information about the following:

a) The Consultant’s vision on the organization of work with a detailed description of the proposed actions for the privatization of the Asset. View on the duration of the process if the Consultant's recommendations and suggestions will be adequately responded to within a reasonably required time. Information about the team, which is involved in the proposed Transaction, indicating the names of individuals in the team and information about their: work experience, length of service and general experience in transacting deals Knowledge of the Uzbek language by team members is welcome. (up to 10 points);

b) Information about the Consultant’s experience in transactions with similar assets, including information about the Consultant’s mandates in the CIS region from January 1, 2017 – present (up to 35 points);

c) Proposal on the organization of the Transaction in terms of project management (phases, considering completion date). (up to 15 points);

d) The commercial proposal consists of two parts (up to 40 points):

The fixed part of the remuneration should be in the form of a single figure and free from the subjective assumptions of the Consultant himself;

Success fee - the Seller gives preference to offers that provide a proportional reward for the success of the Transaction.

If the offer is presented at a price in the range, then its upper limit is taken to evaluate the offer. Possible additional operating expenses (for travel trip, transfer, etc.) should be included in a fixed part of the cost;

e) A written statement on the availability of sufficient competence, as well as human, time, and material resources to complete the tasks.

f) Information about the existence of a conflict of interest. Indicate whether the Consultant currently has a mandate for a potential transaction that may pose a conflict for them, if involved in this Transaction.

 

Scope of work expected from a privatization Consultant

I. Automotive industry market analysis

analysis of the market and prerequisites for the development of the industry in Uzbekistan and in the region, the necessary conditions for the development of industry enterprises;

analysis of the experience of privatization of industry enterprises in other (including neighboring) countries, the main reasons for failures in the privatization of this type of asset, factors ensuring the success of privatization and further development of the industry.

 II. Asset Analysis

description of the Asset, its market and competitive positioning;

risk analysis: identification of potential areas for concern about the Asset from the investor's point of view and the most common reasons for the failures of such transactions. Providing recommendations on measures to reduce the identified risks;

conducting legal expertise, including, but not limited to the study of issues on:

determining the ownership of a trademark, market brands and other aspects of intellectual property;

determining the grounds and providing an opinion, including substantiation of legal aspects on the results of business and other economic activities related to the use of property, as well as the creation, accretion, acquisition of property by transactions, inheritance, acquisition of title in favor of the asset or to the property of third parties, limited property rights, established on the property of the Asset in favor of third parties;

claims and debts, the status of claims, as well as measures taken to recover debts and enforcement;

situations with compliance with labor and antimonopoly legislation, regulations on environmental protection.

 

III. Consultations on pre-sale preparation of an Asset

proposals to increase the investment attractiveness of an Asset, improve the corporate structure and corporate governance based on best practices and a review of comparable analog companies during the pre-sale preparation period;

selection of at least two options that could lead to effective privatization and development of a privatization action plan (containing the proposed privatization method, necessary actions and their timing, for each of the proposed options) of the risks associated with each proposed scenario.

Recommendation on the selection of the best privatization option.

 

Requirements for the Consultant:

  1. The Consultant is required to demonstrate sufficient experience in the implementation of consulting services for the sector and to present the key team members assigned to the tasks described.
  2. The consultant must demonstrate sufficient experience in M&A transactions, including transactions in privatization processes.
  3. The consultant is required to ensure that it has sufficient material and human resources to carry out the task in a timely manner.

 

(1) If a consortium applies, it is asked to provide a consortium agreement, as well as specify the main Consultant (usually referred to as the leader of the consortium), coordinating and responsible for the work of the Consultant-partner involved. In this case, the total cost of services should be indicated.

(2) If proposals by consultants are rated less than 30 points under points a, b and c, the proposals are not evaluated under point d

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