Announcement on submission of Express of interest for the purchase of state share of «Lotte City Hotel Tashkent Palace Hotel»

The Applications will be accepted until August 8, 2022, 18:00. The application process is open to all interested parties. All applicants will be included in the register of potential participants in the sale process.

On 12 May 2022, in accordance with the relevant privatisation programs, the State Assets Management Agency of the Republic of Uzbekistan (hereinafter – UzSAMA or the Seller) announced the start of the privatization of the hotel “Lotte City Hotel Tashkent Palace” (hereinafter – Hotel or Asset), through a competitive sale process (hereinafter – Transaction). As part of this process, the Privatization consultant KPMG Valuation and Consulting LLC (hereinafter - KPMG) carried out work to establish contacts with potential investors in order to determine preliminary interest in the Asset (Market Sounding).

By this announcement, the State Assets Agency invites all potential participants (hereinafter - Applicant) to submit Express of interest in participating in the Transaction.

Applicants are invited to submit an application in the form of a letter in English, Russian or Uzbek (at the discretion of the applicant), and signed by an authorized representative of the applicant (hereinafter - the Application), sent to e-mail address: nshuxratov@kpmg.co.uz

The Seller and the Consultant reserve the right to request any additional information from Applicants, which may include incorporation papers, financial solvency data, as well as certificates of the absence of restrictions that may affect participation in the Transaction.

The received applications will be selected for compliance with the following criteria:
sufficient financial resources to acquire a state share;
absence of any judicial, administrative, arbitration or other proceedings, the result of which may be prohibition on participation in the privatization process;
compliance with the Law of the Republic of Uzbekistan No. 660-II (as amended on January 15, 2019) "On countering the legalization of proceeds from criminal activity, the financing of terrorism and the financing of the proliferation of weapons of mass destruction".

Source: State Asset Management Agency