An American consortium of investors purchased MobiUz for $351 million

The international open tender for the sale of the 100% state stake in the authorized capital of Universal Mobile Systems, or MobiUz, one of the country's telecommunications operators, has concluded in Uzbekistan.

The privatization process was conducted in accordance with approved state programs. International consultants were engaged to support the transaction: Rothschild & Co served as the strategic advisor, KPMG as the financial advisor, and Deloitte as the independent valuer.

The company's sale was actively promoted on international markets. Information about the deal was disseminated through the consultants' global network of offices, as well as during meetings with more than 100 strategic and financial investors. Additionally, materials on the privatization were published in international publications Bloomberg and Financial Times and presented at international roadshows.

As part of the tender, more than 15 investors from the United States, Japan, the Persian Gulf countries, Europe, and the South Caucasus expressed interest in purchasing MobiUz. Most participants were foreign investors. Ten companies submitted initial pricing proposals, and after conducting financial and legal due diligence, six binding acquisition offers were received.

As a result of the tender, the Agency for Management of State Assets selected the offer of a consortium of financial investors led by McKim and Company, with the participation of the technological partner JVR Enterprises LLC from the United States.

MobiUz is valued at $351 million. In addition, investors expressed their intention to invest up to $500 million in the development of the company's telecommunications infrastructure.

The agency noted that the offered price corresponds to an EV/EBITDA multiple of 7.4x, reflecting a competitive valuation of the business and the efficiency of the deal compared to similar international transactions.

To finalize the transaction, all necessary regulatory approvals must be obtained, as well as the completion of corporate and legal procedures.

The Agency for Management of State Assets thanked all investors who participated in the process, as well as consultants Rothschild & Co, KPMG, and Deloitte, for their contribution to conducting the transaction according to international standards.

The agency also stated its plans to continue cooperation with international investors and consultants for the further development of the country's economy.

Source: gov.uz