A company from the Netherlands buys a 44.71% stake in the Uzbekkhimmash plant

Tropidia Holding from the Netherlands buys a 44.71% stake in the authorized capital of the “Uzbekkhimmash” plant for 37 billion soums. This was reported by Gazeta.uz.

UzAssets investment company announced that it had reached an agreement on the sale of a 44.71% stake in the authorized capital of “Uzbekkhimmash Plant” JSC with Tropidia Holding (Netherlands) for 37 billion soums ($3.2 million).

The process of selling the stake in the plant began on August 25, 2021. UzAssets engaged the international consulting company Deloitte as a privatization consultant to carry out the transaction, and the international law firm Dentons provided legal support.

As part of the privatization process, the consultant and UzAssets carried out marketing work both locally and internationally. Five applications were received from investors expressing interest in purchasing the asset.

The applications were examined for the absence of administrative, arbitration or other legal proceedings that could prohibit the applicants from participating in the privatization process, as well as for the fact that they are not included in the sanctions list of the European Union, the United States and major international financial institutions, the message says. .

In addition, as part of the preparation of binding proposals, investors who were selected for absence from the sanctions lists were given the opportunity to conduct their own due diligence of the plant, as well as get acquainted with analytical reports on the financial, tax and legal activities of the enterprise, prepared by a consultant and placed in a virtual room data, UzAssets reported.

The best binding offer, the price parameters of which are within the indicative range of costs calculated by the consultant and exceeding the results of an independent assessment, according to UzAssets, was provided by Tropidia Holding.

UzAssets expects that the buyer will be able to maintain the sustainable development of the Uzbekkhimmash plant and be able to make it one of the largest industrial enterprises in Uzbekistan for the production and design of heat exchange equipment, pumps, turbochargers, column and tank apparatus, as well as complex metal structures.

Tropidia Holding specializes in the design, manufacture and maintenance of heat exchange equipment, pumps, turbochargers, columns and vessels, as well as complex metallurgy. The enterprise also has “huge capacities” for supplying electricity, natural gas, carbon dioxide, oxygen, as well as ready-made corridors of railway tracks (5.9 km from Chirchik station, throughput – 250 wagons / 10 thousand tons per month). In addition, the company is a supplier of parts for Navoiazot, Navoi and Almalyk MMC and MaksamChirchik.