The controlling stake in Asia Alliance Bank set to be sold to Japanese Sawada Holdings, it follows from the Dec. 28 presidential decree, signed following the official visit by Shavkat Mirziyoyev to Japan last December.
Preparation of the draft stake sale document is reportedly due in April, the sale itself is scheduled to take place in May. The transaction price is at US$ 32 million.
The authority responsible for the implementation of the project is the State Assets Management Agency.
The Asia Alliance Bank (established in 2009) was nationalized in the fall of 2018, when the state bought back 45% of the shares from private investors. Last October, the State Assets Management Agency announced that the bank was ready for privatization again.
Founded in 1958 Sawada Holdings Co., Ltd. is a Japan-based company mainly engaged in the securities business.