According to the relevant privatization programs, the State Assets Management Agency (hereinafter – the UzSAMA) announces a tender for the engagement of a professional consulting company (hereinafter – the Consultant) to prepare for privatization and privatization (hereinafter – the Project) of 99,93% stakes in the authorized capital of “Shargʻunkoʻmir” JSC and 100% share in the authorized capital of “Boysunkoʻmir” LLC (hereinafter – the Assets).

The Consultant is required to develop the method, sequence and terms of privatization based on the sectoral and individual characteristics of the Assets, as well as on the basis of the study of institutional investors' interest in acquiring the Assets.

All interested applicants are invited to submit their commercial proposals in accordance with the Request for Proposals (RfP) by 18:00 Tashkent time on June 25, 2025 to the e-mail address: tender@davaktiv.uz.

In the case of a joint commercial proposal (consortium), a principal consultant must be identified who is responsible for coordinating the work of the involved consultant partner and assumes responsibility.

It is reported that work on the Project may be carried out in close co-operation with representatives of consultants and, where necessary, by establishing an additional project team in the Assets.

Refer to the contact below for more information:

Astonakulov Muzaffar Mukhsin ugli - Deputy Head of Department of UzSAMA: tel: +99871-259-21-51, e-mail: tender@davaktiv.uz.

Disclamer

This request does not constitute an obligation to submit a commercial proposal, the UzSAMA is not entering into any obligation to accept any proposal or to enter into a contract pursuant to this solicitation. Accordingly, the issuance of this request and/or receipt of related bids does not imply the award of a contract through negotiation and discussions with one or more applicants.

The materials and information contained herein are intended as a preliminary summary and the most important aspects of the Project, as well as a general indication of the scope of work expected of the Consultant.

The selection participants cannot and should not rely on anything other than the sole limited purpose of preparing initial presentations and proposals for the UzSAMA in connection with the selection process.

Request for Proposals (RfP) to engage a Consultant to prepare for privatization and privatization of the Assets

Introduction

In accordance with the Presidential Resolution of the Republic of Uzbekistan No. PR-145 dated April 21, 2025, privatization of 99.93% stake in the authorized capital of “Shargʻunkoʻmir” JSC and 100% share in the authorized capital of “Boysunkoʻmir” LLC (hereinafter - the Transaction) is envisaged.

The sale processes should be organized on the basis of the best international practices, considering the industry and individual characteristics of the Assets, within the framework of the requirements of the legislation of the Republic of Uzbekistan. To make the right decision on the part of the State Assets Management Agency, an independent appraisal of the Assets (of each enterprise separately) is carried out.

This Request for Proposals (hereinafter -  the Request) sets forth the requirements for the Consultant, the structure of the proposal to be evaluated, and contains in the appendix of the Request a description of the required scope of work to support the Transaction. Consultants may enter into a consortium or make joint proposals to provide a full range of services.

Expected structure of Consultants' proposals and requirements for them

The Consultant's proposal (individual applicant or Consortium) must be prepared in Uzbek/Russian/English and contain information on the following:

a) The Consultant’s vision for organizing the work with a detailed description of the proposed actions for the privatization of the Assets. An opinion on the duration of the process, if the Consultant’s recommendations and proposals receive an adequate response within a reasonably required time (up to 10 points);

b) The commercial proposal consists of two parts (up to 50 points): 

• fixed remuneration - in the form of a single figure (including VAT, overhead and other expenses) and at the same time free from the subjective assumptions of the consultant himself;
• reward for success (success fee) - The UzSAMA gives preference to offers that provide a reward for success proportional to the cost (success fee) of the Transaction.

If an offer is presented at a price within a range, its upper limit is accepted to evaluate the offer. Possible additional operating expenses (for business trips, transfers, etc.) and tax (VAT) must be included in the fixed part of the cost

c) Information about the Consultant’s experience in transactions with similar assets, as well as information on mandates abroad, including in the CIS region for the last five years (up to 20 points);

d) Proposal for organizing work to implement the Transaction from the point of view of project management. Details of the team involved, indicating the names of individuals and information about them: work experience, duration of professional activity, general experience in concluding transactions and qualifications for their realization (up to 20 points);

e) A written statement about the availability of sufficient competence, as well as human, time, and material resources to complete the assigned tasks;

f) Information about the presence of a conflict of interest. Indicate whether the Consultant currently has a mandate for a potential transaction that may pose a conflict to it if it were to be involved in the Project.

Scope of work of a Consultant in the privatization process

I. Research on investor interest in hard coal mining and market analysis of other related services: 

• analysis of the market and prerequisites for the development of the industry in Uzbekistan and in the region, necessary conditions for the development of enterprises in the industry;
• development of the form, method and conditions of sale based on a study of the interest of institutional investors in acquiring assets in this industry;
• analysis of the experience of privatization of industry enterprises in other (including neighboring) countries, the main reasons for failures in the privatization of this type of assets, factors ensuring the success of privatization and further development of the industry;
• Based on the analysis, an action plan will be developed necessary for the successful organization of Assets privatization processes.

II. Consultations on pre-sale preparation of Assets: 

• Proposals to increase the investment attractiveness of the Assets, improve the corporate structure and management based on the analysis of the best international practices and similar assets;
• Analysis of conditions for issuing licenses and permits for coal mining activities in the Republic of Uzbekistan;
• conducting a comprehensive (tax, legal, financial and environmental) analysis (due diligence) of the Assets;
• preparing recommendations on the optimal marketing strategy, marketing materials (teaser, information memorandum, Process letter, etc.) and distributing information materials to investors;
• preparation of marketing materials, including investment video, handouts, etc.;
• providing recommendations for establishing interaction with the public and business entities, as well as answering their questions;
• selecting an appropriate appraisal method and determining its relevance to investors, providing recommendations on the price range;
• identification of key factors, key indicators and assumptions affecting the appraisal, including from the investor’s point of view;
• attracting other consultants within the project (if necessary) and coordinating their work.

III. Transaction support: 

• taking all measures aimed at privatizing the Assets, organizing a virtual data room (VDR);
• Coordination of communication with potential applicants, including answering questions from potential buyers;
• support of the sales process with the preparation of all necessary documentation, including a draft purchase and sale agreement (with translation into Uzbek and, if necessary, into English and Russian);
• organization of closing and announcement of the Transaction.

(1) If an application is submitted by a consortium, please provide a consortium agreement, as well as indicate the main consultant (usually called the leader of the consortium) coordinating. In this case, the total cost of services must be indicated.

(2) If consultants' proposals are scored less than 30 points on points "a", "c" and "d" of the section "Expected structure of consultants' proposals and requirements for them", then the proposals are not subject to evaluation in accordance with paragraph "b".

(3) If one of the company participants uses the pre-emptive right to purchase a share, in this case the consultant will be paid for legal support services by signing an additional agreement.