The State Assets Management Agency (UzSAMA) announces the start of the sale process of 100% state share in the authorized capital of "Neftgazmontaj" LLC (the Asset/Enterprise).

Mosaic Financial is the consultant to UzSAMA for the Transaction.

Brief information about the Asset:

Neftgazmontaj specializes in complex construction and installation projects of all scales.
The company boasts a comprehensive fleet of specialized vehicles and advanced construction machinery, including horizontal drilling rigs, earthmoving equipment, lifting mechanisms, welding units, and other essential tools. The company’s equipment is sourced from leading global manufacturers such as Volvo, Caterpillar, Komatsu, Liebherr, and Renault, ensuring top-tier performance and reliability in every project. In 2004, the company developed and implemented a quality management system ISO 9001-2000. 

The authorized capital: 4,3 million US dollars;
Address: Tashkent city, Chilanzar district, Bunyodkor Avenue, 47
Website: www.ngm.uz

Privatization Process:

The sales process for the Asset is based on a public invitation to negotiations method, which is open to all interested parties (Participants).

The selection process of buyers will be carried out in two stages including the Express of Interest and Binding Offer (BO), at the final stage buyers are required to make a guaranteed payment that is not less than 1% of the amount of the proposed binding price offer.

Terms of Asset Acquisition:

1. The Enterprise’s core operations must be maintained for at least five years.
    
2. Existing jobs and number of employees at the Enterprise must be maintained for 2 years (excluding positions vacated due to natural causes). The current payroll amount must not be reduced, and the terms of the collective agreement must not be worsened.

Before submitting Binding Offers, participants who advance to the submission stage of the Binding Offers will need to sign an agreement outlining the main terms for acquiring the asset.

The First Stage Process:
Candidates are invited to submit an Express of Interest Application which includes the following information:

1. Brief information about the Applicants (including TPIN, and type of activity).
2. Information about shareholders/participants owning more than 5% of the share in the authorized capital of the Applicant (indicating the share of ownership), as well as ultimate beneficiaries.
3. Financial statements for the last three years.

The application can be prepared in Uzbek, Russian, or English languages until 18:00 (Tashkent time) on August 27, 2024, and sent to the following e-mail addresses: info@mosaic-financial.uz and bakhromov@mosaic-financial.com.

As part of this stage, the Consultant distributes investment teasers for potential investors.

The received applications will be selected based on the following criteria:

• Sufficient financial resources to acquire the asset, as well as asset management experience in construction engineering and drilling activities;
   
• absence of any judicial, administrative, arbitration, or other proceedings, the result of which may be a ban on participation in the privatization process;
   
• Compliance with Uzbekistan Law #660-II (as amended on January 15, 2019) "Countering the legalization of proceeds of crime, the financing of terrorism and the financing of the proliferation of weapons of mass destruction";
   
• Neither the Applicant (or in the case of a Consortium, any of the Consortium Members) nor its shareholders/participants shall be a state-owned company or a company with a state share in the authorized capital;
   
• Neither the Applicant nor any of the Consortium Members (in the case of the Consortium) must be on the public sanctions lists of the European Union and the United States or any of the major international development banks (World Bank, European Bank for Reconstruction and Development, Asian Development Bank), or on the date of the Application must be subject to any proceedings or investigation by the aforementioned sanctions authorities. Also, neither the Applicant (and, in the case of the Consortium, none of the Consortium Members) nor any of its/their affiliates is/are in any way involved in any activity (directly or through any subsidiary) contrary to the sanctions regime of the aforementioned institutions and states and, neither the Applicant (or in the case of the Consortium, any of the Consortium Members) nor any of its/their Related Parties have as principal financiers or lenders banks or financial institutions which are sub-sanctioned persons or persons controlled or owned by sub-sanctioned persons.

After completion of this stage, the Consultant will individually inform the participants about the organization of the next stage of the sales process by sending a Process Letter.

The contact persons for this project are:

• Iskandar Baxromov, representative of Mosaic Financial
  • Email: iskandar.bakhromov@mosaic-financial.com, 
  • tel: +99895-502-00-01;

• Talat Samandarov, Head of Department of UzSAMA: 
  • Email: tender@davaktiv.uz, 
  • tel: +99871-259-20-67.

Potential investors who progress to the stage of submitting Binding Offers must sign a Non-Disclosure Agreement (NDA). Once the NDA is signed, they are granted access to the Virtual Data Room (VDR), where information on the asset's performance and analytical data prepared by the consultant are stored. Additionally, investors have the opportunity to visit the asset and ask questions of its management body

UzSAMA informs the public about the progress of the privatization process.
 

DISCLAIMER

UzSAMA reserves the right to change the sequence of the privatization process or refuse to sell to any potential buyer(s) or negotiate with them at any time without explanation.

This announcement, or any part of its content, should not be taken as a form of obligation on the part of UzSAMA, Mosaic Financial in relation to the Asset sale, as one might assume in connection with the publication of this announcement. UzSAMA and Mosaic Financial reserves the right, in its sole discretion, at any time and in any respect, without assuming joint or individual responsibility:

(i) Change the deadline for submission of applications;

(ii) Follow different procedures with respect to different stakeholders and/or negotiate with one or more potential buyers within the schedule and procedure established jointly by the UzSAMA and Mosaic Financial, to the exclusion of any other potential buyer(s) without prior notice;

(iii) Stop the sale process for any reason;

(iv) Stop all discussions and negotiations with any potential buyer(s) in relation to the Transaction at any time and without explanation.

Source: davaktiv.uz