The key facts

  • Expressions of interest (EoI) were accepted from September 22; five applications had been received by the end of October 23
  • Ernst & Young is acting as the tender consultant
  • Applicants will be screened for sanctions by the US, the EU, and international financial institutions

Five bids in the first stage of the tender

The Agency for Management of State Assets commented on the progress of the privatization of the fueling complex at Tashkent airport, reports Spot.uz. Acceptance of expressions of interest (EoI) began on September 22, and the international company Ernst & Young (EY) was engaged as the consultant for organizing the tender, as well as the marketing and information campaign. By the end of the day on October 23, the consultant had received applications from five investors.

Selection criteria and the next stage

All applicants will be assessed for compliance with the established criteria: sufficient financial capacity, compliance with anti-money laundering legislation, and the absence of sanctions from the United States, the European Union, and international financial institutions. Candidates meeting the requirements will be invited to the next stage — submission of binding offers. The UzAMA promised to keep the public informed about the progress of the tender and thanked all participants who expressed interest.

What is known about the facility and the procedure for the second stage

The aircraft refueling complex is located in the Sergeli district of Tashkent along Kumaryk street. Its total area is 11 hectares, of which buildings and structures occupy 6,076 square meters. According to an earlier announcement published by the UzAMA, participants who advance to the second stage will receive a Process Letter describing the procedure and will sign a non-disclosure agreement (NDA), after which they will gain access to a virtual data room and the consultant's due diligence reports. Before submitting an offer, applicants must pay a deposit of at least 1% of the proposed amount via E-auksion and sign an agreement on the main terms of the deal (Term Sheet).

Context

The Spot.uz publication also recalls another recent transaction involving state property: in the center of Tashkent, the building of the Center for Aerogeodesy was sold for 213 billion soums. The names of the five applicants for the fueling complex have not yet been disclosed; the results of the compliance review and the list of participants in the second stage had not been announced at the time of publication.