Uzbekistan is selling a 35 per cent share of its national container freight operator Uztemiryolkonteyner (UTYK). The process incurred a delay of almost a year, but now there are five interested parties for the takeover.
UTYK, a subsidiary of Uzbekistan’s national operator Uzbekistan Railways, was supposed to be partially privatised last year already. During the initial stages of the 35 per cent share sale, Uzbekistan Railways announced a reorganisation into a holding structure. The sale was paused, but resumed in July.
Five interested parties have now been approved as candidates for the purchase. They had to comply with at least four conditions, namely: a stable financial position, the absence of any court proceedings against them, the company is not allowed to have any state stakeholders, and it should not be subject to any sanctions. One interested party was rejected on the basis of being sanctioned.
The approved candidates now have until September 20 to submit a binding offer for the purchase, according to Uzbekistan’s state asset management agency.