Oybek Tursunov is buying the head office and other assets of Perfectum for a sum close to 100 billion soums

Oybek Tursunov buys Perfectum head office and other assets for nearly 100 billion soums

Entrepreneur Oybek Tursunov is purchasing the real estate and other assets of the mobile operator Perfectum for a total of 98.37 billion soums including VAT. The relevant transaction was approved on October 16 at an extraordinary general meeting of shareholders of Rubicon Wireless Communication JSC, which operates under the Perfectum brand.

The decision was published on the Single Portal of Corporate Information on October 23.

According to the document, the company will sell to Oybek Tursunov real estate located in the center of Tashkent, where the Perfectum head office is situated, as well as 2,012 items of fixed assets. Two sale and purchase agreements are planned to be concluded for this purpose.

The main object of the transaction is a real estate complex located at 21 Taras Shevchenko Street, Mirobod district, Tashkent city. It is situated on a land plot of 7,283 square meters (0.72 hectares) and includes four buildings with a total area of 10,479 sq. m, of which 8,677 sq. m is usable area.

The buildings have 57 rooms, including 47 office rooms. The value of the real estate complex, including VAT, is set at 65.97 billion soums.

In addition, Perfectum is selling 2,012 units of fixed assets with a total value of 32.41 billion soums. Their detailed list, referenced in the shareholders' decision, is not provided in the disclosed text.

The total value of the sale amounts to 98.4 billion soums.

"Approve a major transaction (two sale and purchase agreements) to be concluded in connection with the sale of property by Rubicon Wireless Communication JSC to a third party — Tursunov Oybek Botirovich — at a total sale price of 98,374,503,360 soums including value added tax," the decision of the general meeting of shareholders states.

The shareholders instructed the executive director of the company to sign the sale and purchase agreements as well as the property transfer-acceptance acts, and to ensure compliance with legislative requirements during the execution of the transaction.

The decision was approved unanimously — all 572.39 million voting shares represented at the meeting voted in favor of its adoption.

The sale of real estate and fixed assets was approved three days before the international VEON group announced the acquisition of Perfectum on October 16.

On October 19, VEON, which owns the Beeline Uzbekistan operator, announced that an agreement had been signed to acquire 100% of the shares in Rubicon Wireless Communication.

The total value of the transaction is nearly $207 million, which includes Perfectum's financial indebtedness of approximately $93 million. Thus, deducting the assumed debt, the transaction value is approximately $114 million.

VEON UZB Holding Ltd acts as the buyer of the shares.

According to corporate data from Rubicon Wireless Communication, the current shareholders and VEON UZB Holding Ltd were to enter into a share sale and purchase agreement on October 19. The transfer of shares involves placing irrevocable orders through the over-the-counter trading system of the "Toshkent" Republican Stock Exchange.

The Competition Promotion Committee approved the acquisition of Perfectum by the VEON group.

The operator must maintain its independence for at least three years, and its current 5G FWA tariffs for 12 months. Requirements regarding communication quality and subscriber rights protection have also been established.