According to the announcement published by the State Assets Management Agency (UzSAMA) dated April 5, 2023, it was reported about the completion of the Express of Interest stage for the purchase of 51% state share (the "Transaction") in the authorized capital of "Dori Darmon" JSC (the "Company" or the "Asset") and the start of the next Non-Binding Offer (NBO) stage.
Portfolio Investments LLC (hereinafter referred to as the "Consultant") acts as a leading consultant of UzSAMA on this transaction.
In order to confirm applicants’ participation in the privatization process, a Non-Disclosure Agreement (NDA) had been signed, and access was granted to the virtual data room (VDR), which allowed them to study the Information Memorandum prepared by the Consultant, which contains the necessary information for the preparation of non-binding offers to buy the Asset.
As a result, the Consultant received Non-Binding Offers (NBO) from 3 applicants during the specified period.
The offers were reviewed by the Consultant for compliance with the requirements of this stage of the sales process, including their financial performance, level of solvency, and based on the Consultant's recommendation 3 applicants were advised to join the next stage for the acceptance of Binding Offers (BO).
Applicants at the Binding Offers stage will be given access to financial, tax, legal, and environmental reports prepared by a Consultant, also, each applicant will be sent a procedural letter (Process Letter) on the procedure for this stage of the privatization process and the conditions for the purchase of the asset. Additionally, applicants will have the opportunity to visit the Company directly and meet with the management.
Binding Offers (BO) for the acquisition of the Asset will be accepted by the Consultant until 18:00 (Tashkent time) July 10, 2023.
UzSAMA and Portfolio Investments LLC express their gratitude to all participants who have shown interest in the privatization process and submitted offers and also express confidence in further constructive cooperation with applicants who have successfully passed the Non-binding Offers stage.
