The State Assets Management Agency of the Republic of Uzbekistan (UzSAMA) announces the sale of 100% state's share in CHINAZ PETROLEUM REFINERY PLANT LLC.

ABOUT THE COMPANY

«Chinaz Petroleum Refinery Plant» LLC is an industrial enterprise established in 2016 that processes petroleum into gasoline, kerosene, mazut, diesel fuel, and lubricating oils. The plant possesses modern equipment that allows processing of up to 117 thousand tons of hydrocarbon raw materials per year.

TRANSACTION PROCESS

The sale is organized in the form of a competitive application process and is open to all interested parties (Participants).

To participate in the application process, Participants are asked to express their interest in an Express of Interest Form that includes the following information:
 

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

LANGUAGE

Uzbek, Russian, or English (at the discretion of the participants)

DEADLINE FOR SUBMISSION

Applications must be received by Mosaic Financial at the below address no later than December 26, 2022, 18:00 Tashkent time.

Email: iskandar.bakhromov@mosaic-financial.com
 

EVALUATION CRITERIA

Received proposals will be selected according to the following criteria:

• • sufficient financial resources to acquire the Asset;
   
• • 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 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.
   

ADDITIONAL DETAILS

The detailed sale process and its terms will be communicated as the interest of the Applicants arises.

After the review of the submitted applications, Mosaic Financial will notify the Participants about the following steps.

A Non-Disclosure Agreement (NDA) will be signed with potential investors who have passed to the next stage, and access to a Virtual Data Room (VDR) will be provided, where investors can learn general information about the Asset.

For further questions, you can contact Mosaic Financial, the consultant on the Transaction.

Iskandar Bakhromov

iskandar.bakhromov@mosaic-financial.com
 

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 reserves the right, in its sole discretion, at any time and in any respect, without assuming joint or individual responsibility:

• • Change the deadline for submission of applications;
   
• • 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 UzSAMA and Mosaic Financial, to the exclusion of any other potential buyer(s) without prior notice;
   
• • Stop the sale process for any reason; and/or
   
• • Stop all discussions and negotiations with any potential buyer(s) in relation to the Transaction at any time and without explanation.