Tashkent, Uzbekistan (UzDaily.com) -- The state stake in Single Republican Processing Center LLC (Uzcard) was sold for 210.1 billion soums (about US$18.9 million). This was reported by the press service of the State Assets Management Agency of Uzbekistan.

On 20 August 2022, information was published on the processes of preparing the privatization of shares owned by the state in Single Republican Processing Center LLC.

According to this, in accordance with Article 20 of the Law "On Limited and Additional Liability Companies", the other members of the Company and the Company itself were notified in writing by the State Assets Management Agency that they can exercise the pre-emptive right to purchase a state share in the amount of 75% in the charter capital of the Company.

As a result, taking advantage of the pre-emptive right, the remaining 4 members of the Company expressed a desire to acquire a state share in the amount of 75% in the authorized capital of the Company, each 18.75% in proportion to the size of their shares in accordance with the requirements of the Law of the Republic of Uzbekistan "On Appraisal Activities" and the National property valuation standard, at a cost assessed by an independent valuation organization Real Excellent Valuation LLC, attracted by the State Assets Management Agency.

In this regard, purchase and sale agreements were concluded with the remaining 4 members of the Company for the sale of a state share in the amount of 75% in the authorized capital of Single Republican Processing Center LLC at an estimated cost, in proportion to the size of their shares, for a total amount of 210.1 billion soums.

In turn, the funds received, in accordance with these agreements in September of this year, were distributed to the privatization fund of the State Assets Management Agency in accordance with the procedure established by law.

A stake in the company was acquired by Mansur Usmanov, Kamron Akbarov, Timur Azadov and Obid Agzamkhojaeva, who now each own a 25% stake in the capital of Single Republican Processing Center LLC.