«Hyatt Regency Tashkent» sold for $87 million

The State Assets Management Agency reached an agreement with "Abu Dhabi Uzbek Investment" to sell Hyatt Regency Tashkent hotel for $87 million.

Initially, five bidders from America, Asia, Europe and Uzbekistan itself wanted to privatize the hotel. The three investors moved on to the final stage of accepting bids.

They were given access to a virtual data room that provided independent reports on comprehensive financial, tax, legal and environmental analysis.

The best purchase price was given to "Abu Dhabi Uzbek Investment", which resulted in the company being declared the winner of the international tender.

The agency said the investor will also take an investment commitment of $12 million in addition to the purchase price. The full payment for the transaction is made in one payment after the signing of the purchase agreement.

As information, it should be noted that "Abu Dhabi Uzbek Investment" is an investment company with a capital of 1 billion dollars, which invests in projects contributing to the development of bilateral economic cooperation between Uzbekistan and the UAE.