Tashkent, Uzbekistan (UzDaily.com) — An agreement has been reached in Uzbekistan on the privatization of the state’s share in the charter capital of Avto Climate Control LLC, the State Assets Management Agency reported.

As part of the approved privatization programs, the Agency conducted an open tender for 100% of the state share in the company, with advisory support from consulting firm Portfolio Investments. A large‑scale marketing campaign was organized: investment teasers were sent to potential buyers, after which four investors expressed interest in the purchase.

At the next stage, following the signing of non‑disclosure agreements, bidders gained access to analytical reports on the company’s financial, tax, legal, and environmental activities through a virtual data room, as well as the opportunity to meet with the company’s management.

Within the set timeframe, three bidders submitted binding offers. The winner was Best Pipe and Parts LLC, which offered the highest price — 230 billion soums. In accordance with Article 31 of the Law “On the Privatization of State Property,” the buyer is required to pay 35% of the deal amount within one month.

The buyer also committed to maintaining the company’s core business for at least 10 years, ensuring compliance with technical support licensing agreements with General Motors, and adhering to the terms of the Main Alliance agreement on the use of General Motors‑related technological equipment.

According to the Agency, the winning bid falls within the upper range of the indicative valuation calculated by the consultant and exceeds the estimated value of the asset.

The results of the privatization were approved by the State Commission on Privatization and Coordination of State Asset Privatization Processes. The Agency expressed gratitude to all participants and announced that the finalists will receive individual notifications regarding the outcome.