Investment company UzAssets under the State Asset Management Agency announced its intention to sell the state block of shares in the construction company Trest-12 “through a competitive sale process.”
The international consulting company Deloitte acts as a consultant on the sale of 51.12% of the shares currently owned by the Tashkent khokimiyat.
According to UzAssets, the sale will be organized as a competitive bidding process open to all interested parties. Applicants who submit applications will have the opportunity to study company data by signing a confidentiality agreement (NDA).
The deadline for submission of non-binding bids is October 17th. Those who have passed the first stage will be invited to submit binding proposals.
UzAssets reserves the right to change the sequence of the sale process or refuse to sell to any potential buyer or to negotiate with him at any time without giving a reason.
The investment company said that “Trest-12”, operating since 1979, is one of the most famous construction companies in Uzbekistan. The company has its own production and technical base in Tashkent, as well as a highly qualified professional engineering staff with many years of experience in solving complex technical problems. The company’s fleet of equipment allows to carry out large construction projects on its own, the description says.
The trust carried out the construction of several dozen iconic facilities, including public buildings (the buildings of the Cabinet of Ministers and Ministries of Uzbekistan, the National Library, the Minor Mosque , etc. ), industrial facilities (including the GM Powertrain plant), the Hyatt Regency hotel complex, the International Westminster University in Tashkent and many others.
Currently, Trest-12 has a fully completed portfolio of orders for 2021-2022, including the construction of the Center for Islamic Civilization, a car assembly plant in the Jizzakh FEZ, several residential complexes in Tashkent, the building of the Uzbek Embassy in Kazakhstan and others.
The company has no debt obligations and is rated ‘BB’ in the electronic rating of construction contractors in Uzbekistan, the report says.
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