UzPost not sold: State Assets Management Agency clarifies situation around "Uzbekiston Pochtasi"
The state retains 92.9% of the postal operator's shares. Wildberries and Uzum Market's interest in purchasing a stake did not lead to a finalized deal, and instead of a 100 billion soum loan, an interest-free credit line of up to 360 billion soums is being considered. The State Assets Management Agency commented on social media reports regarding the possible privatization of "Uzbekiston Pochtasi" JSC, the participation of representatives from WB INT EXPORT […]
UzPost not sold: State Assets Management Agency clarified the situation around Uzbekistan Pochtasi
The state still owns 92.9% of the shares in the postal operator. The interest of Wildberries and Uzum Market in purchasing the stake did not lead to a deal, and instead of a 100 billion soum loan, an interest-free credit line of up to 360 billion soums is currently being considered.
The State Assets Management Agency commented on reports in social networks regarding the possible privatization of Uzbekistan Pochtasi JSC, the participation of WB INT EXPORT representatives in the company's supervisory board, and plans to raise financing.
The agency reported that the state stake of 92.9% in the company's charter capital has been transferred to its management.
Earlier, Wildberries and Uzum Market expressed interest in purchasing this stake. However, the interest of potential investors in itself does not mean that a deal has already taken place. As of the publication of the official clarification, the privatization documents for the state stake had not been executed.
The agency also explained that the participation of WB INT EXPORT representatives in the supervisory board does not mean they have acquired shares. Their involvement is aimed at improving corporate governance, developing a strategy for the postal operator's development, and increasing its operational efficiency. The state retains its shareholder status, and the composition of the company's executive body has not changed.
Questions also arose regarding plans to raise borrowed funds. Previously, a loan option of 100 billion soums at the Central Bank's refinancing rate was considered. However, it was not possible to agree on the final financing terms, so no decision was made to take out this loan.
At a press conference on October 8, preliminary agreements on an alternative mechanism were announced — opening a credit line of up to 360 billion soums without interest accrual.
It is expected that the funds will be used as needed to finance the company's current requirements. At the same time, opening a credit line does not mean that the company will automatically receive the full specified amount. The final financing terms and the implementation of the agreements must be finalized in accordance with established corporate procedures.
The agency states that the efforts are aimed at ensuring the financial sustainability of Uzbekistan Pochtasi, modernizing the postal infrastructure, and improving the quality of services for the public and businesses.