Uzbekistan has announced the sale of state shares in three major automotive companies as part of its ongoing privatization efforts.
The government is offering 50% of the authorized capital of Uzsungwoo, 100% of the authorized capital of Avto Climate Control, and 34.2% of the authorized capital of Uz Truck and Bus Motors.
“Portfolio Investments” serves as the privatization consultant to UzSAMA for these transactions, following an industry-specific approach.
Uzsungwoo, established in 2011, specializes in manufacturing metal parts for the automotive industry using stamping and welding technologies. The company has an annual production capacity of 120,000 sets and supplies parts for Chevrolet models, including Cobalt, Gentra, Tracker, and Onix. Its charter capital is $14 million.
Avto Climate Control was founded in 2010 in collaboration with Uzavtosanoat JSC and South Korea's Erae Cs Limited. The company produces heating and cooling systems for vehicles, playing a vital role in Uzbekistan's automotive supply chain. Its charter capital is 12,592.9 million UZS ($971,439).
Uz Truck and Bus Motors, established in 2009, is one of Central Asia’s largest manufacturers of MAN and Howo trucks and passenger vehicles. The plant produces over 60 types of vehicles, including tractors, dump trucks, vans, special equipment, and buses, with capacities ranging from 5 to 70 tons. The company’s authorized capital is €32.8 million.
The sales process will occur in two stages. In the first stage, interested investors must submit an Expression of Interest (EOI) along with supporting documents. In the second stage, authorities will review the EOIs and invite selected investors to submit binding offers. The asset will be awarded to the highest bidder.
To qualify, investors must have adequate financial resources and provide proof of transparent sources of funds. Neither the Applicant nor any of the Consortium Members (in the case of the Consortium) must be on the public sanctions lists.
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DeepMind founder Demis Hassabis called on Britain to harness its strengths—such as world-class universities and top-tier talent—to shape how artificial intelligence is deployed globally.
Italy and Spain made it clear on Monday that they are not prepared to support an EU proposal to pledge up to 40 billion euros ($43.67 billion) in military aid for Ukraine this year on a proportional basis, according to officials and diplomats.
U.S. homebuilder sentiment fell to its lowest level in seven months in March, as rising tariffs on imported materials have driven up construction costs, according to the latest survey from the National Association of Home Builders (NAHB) and Wells Fargo.
U.S. retail sales in February edged up by 0.2% as consumers pulled back on discretionary spending, signaling cautious optimism amid a broader economic backdrop marked by tariffs and federal workforce cuts.
PepsiCo said on Monday it would acquire prebiotic soda brand Poppi for $1.95 billion, as part of its push into the healthier soda category amid falling demand for its traditional beverages and snacks.
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