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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Kyrgyz President Sadyr Japarov has postponed the next presidential election by several months, fueling speculation about his intention to seek a second term. The move allows him to complete his full six-year mandate and marks a potential shift toward greater political consolidation.
Türkiye has firmly rejected Greece's unilateral actions and claims regarding maritime spatial planning (MSP) in the Aegean Sea and Eastern Mediterranean, asserting that these actions will have no legal consequences for Ankara.
A passenger boat caught fire and capsized late Tuesday on the Congo River, killing at least 50 people and leaving hundreds more missing, officials confirmed Wednesday. The tragedy occurred near the northwestern town of Mbandaka in the Democratic Republic of the Congo.
A new wave of attacks targeting French prisons has emerged overnight, with cars set on fire at several facilities, including at the Tarascon prison in southern France.
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