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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The Nvidia’s annual software developer conference this week, CEO Jensen Huang is set to defend the company’s leading position in the AI chip market amid growing competition and cost pressures on its largest customers.
Google is reportedly preparing to collaborate with Taiwan’s MediaTek on the next generation of its AI chips—its Tensor Processing Units—set to be produced next year, according to a report by Information citing people involved in the project.
Barcelona’s postponed LaLiga clash with Osasuna will take place on March 27, following the death of the club’s doctor. However, with key players unavailable due to World Cup qualifiers, Barcelona is considering appealing the decision by the Spanish soccer federation.
OpenAI is urging the Trump administration to grant AI companies an exemption that would allow them to train their models on copyrighted material—a move it argues is crucial for maintaining America's leadership in artificial intelligence.
In the wake of intense militia clashes, South Sudan's airstrike hit the east, killing at least 19. Tensions continue to rise in a region still scarred by civil war, as political rivalries and a brutal attack fuel fears of another deadly conflict.
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