The investment company UzAssets under the State Asset Management Agency announced intention to sell the government’s block of shares in the Trest-12 company through a competitive bidding process.
The international consulting company Deloitte has been engaged as a consultant on the sale of 51.12% of the shares currently owned by the Tashkent mayor’s office.
According to UzAssets, the sale will be organized as a competitive bidding process open to all interested parties. Bidders will be allowed to study the company data, but for this they will need to sign a Non-disclosure agreement (NDA).
The deadline for submission of bids in the form of non-binding proposals is no later than 18:00 on October 17. The consultant will then inform the bidders, who have qualified for the second stage, the deadline for submitting binding proposals.
The participant who has proposed the best offer in terms of price and terms of sale agreement during the negotiations will be declared the winner.
While, UzAssets reserves the right to change the sequence of the sale process or refuse to sell to any potential buyer or to negotiate with him at any time without giving a reason.
About Trest-12
According to the investment company, Trest-12 is one of the most famous construction companies in Uzbekistan, established in 1979. The company has its own production and technical facilities, and a dozen construction subsidiaries in Tashkent, and as well as a highly qualified professional engineering staff with many years of experience in solving complex technical problems. The company's fleet of equipment allows to carry out large construction projects on its own.
The Trest carried out the construction of several dozen iconic objects, including public buildings (buildings of the Council of Ministers and Ministries of Uzbekistan, the National Library, the Minor Mosque, etc.), industrial facilities (including the GM Powertrain plant), the Hyatt Regency hotel complex, Westminster University and many others.
Currently, "Trest-12" has a full portfolio of orders for 2021-2022, including the construction of the Center for Islamic Civilization, a car assembly plant in the Jizzakh FEZ, several residential complexes in Tashkent, the buildings of the Uzbek Embassy in Kazakhstan and others.
The company has no debt obligations and is rated 'BB' in the electronic rating of construction contractors in Uzbekistan.
