Anadolu Isuzu has made an offer to the Uzbekistan State Asset Management Agency to purchase controlling stake in JV SamAuto.
The company statement was posted on the Turkish Public Disclosure Platform (KAP) and reads as follows:
Our Company announced that on June 5, 2024, a Memorandum of Understanding was signed between Anadolu Isuzu Automotive Industry and Trade Inc. and the State Asset Management Agency of the Republic of Uzbekistan ("Agency") regarding the vehicle manufacturer JV SamAuto LLC. Company ("Company") headquartered in Tashkent and with a production facility in Samarkand, Uzbekistan, to analyze the possibilities of taking over the majority shares of the Company and to carry out the necessary studies within this scope.
The notification made by our Company on November 1, 2024 stated that detailed financial, legal and tax investigation studies had been initiated in order to submit a binding offer to take over the majority shares of the Company.
At this stage, an offer has been made to the State Asset Management Agency of Uzbekistan to purchase shares representing up to 75.2% of the Company's capital.
The necessary public statements will be made as developments regarding the continuation of the process occur.
