Why is this important
The sale of SamAuto’s state share to Turkey’s largest automaker creates conditions for investment inflow and modernization of the Uzbek automotive industry. The deal shows that Uzbekistan’s privatization market remains attractive for major foreign players capable of investing significant financial and technological resources.
What happened
- Anadolu Isuzu completed the privatization by acquiring a 75.2% state-owned stake in SamAuto and transferring $80 million for it.
- Turkey’s Anadolu Isuzu, part of the Anadolu Group, paid $80 million for the state-owned stake in the Samarkand Automobile Plant LLC.
- The investor also pledged to invest an additional $80 million in the development of the plant in accordance with the recommendations of the technical and economic assessment.
- To complete the privatization, the company obtained the necessary permits from the regulatory authorities of Turkey.
Numbers and facts
- $80 million is the amount paid by Anadolu Isuzu for the acquired state share in SamAuto’s authorized capital, which determines the value of the main part of the transaction.
- $80 million is an additional volume of investments that the company undertakes to contribute to the development of the enterprise based on a technical and economic assessment.
- 75.2% — the amount of SamAuto’s state share transferred to the investor under the purchase and sale agreement of November 19.
- December 9th is the date of receipt of $80 million to the State Joint-Stock Company’s Privatization Fund, confirming the actual fulfillment of financial obligations under the transaction.
- 1 trillion soums – the amount transferred from the Privatization Fund to the republican budget on December 10 after receiving funds from the investor.
Context
- The transaction opens the enterprise access to international technologies, management practices, and potential export markets, which increases the potential for further growth.
- The transaction opens the enterprise access to international technologies, management practices, and potential export markets, which increases the potential for further growth.
