UzAuto Motors will be sold. Who could the potential buyer be?
UzAuto Motors will be fully privatized. The State Assets Management Agency is planning to announce a tender. The company currently produces cars under the Chevrolet brand and is technologically dependent on GM licenses and components. In this regard, it is assumed that the potential buyer could be one of the organizations that works together with the American company.
UzAuto Motors will be put up for sale. Who could the potential buyer be?
A tender will be announced for the privatization of state shares in Powertrain. This was announced on September 17 by Alisher Miraliyev, Deputy Director of the State Assets Management Agency, at the international Cbonds conference.
"Soon we will announce a tender for two state-owned companies - UzAuto Motors and UzAuto Motors Powertrain," said the Deputy Director of Davaktiv.
The privatization program for 2026 also stipulated accelerating the sale of state shares in these two companies. In this process, the consulting firm Alvarez & Marsal will develop the privatization strategy for these companies and organize the sales processes. Within the next four months, materials on the investment, production, and financial status of the companies must be prepared.
For reference, the presidential decree of April 2025 envisaged attracting international consultants for the privatization of UzAuto Motors (99.7 percent) and UzAuto Motors Powertrain (100 percent) by the end of the year. Public sales were scheduled to be announced in the first quarter of 2026.
As a reminder, UzAuto Motors' IPO was held in early 2023. Following the trading, the company managed to attract 56.9 billion soums from investors. However, demand for the national carmaker's shares was much lower than expected. Initially, it was planned to publicly place up to 10 percent of UzAuto Motors' share package on the local stock market.