“Unified All-Republic Processing Center” LLC (Uzcard) became a private company again. 75% of the state’s share in it was transferred to Kamron Akbarov, Timur Azadov, Mansur Usmanov and Obid Agzamkhodayev, who owned the remaining 25% of the company. Now each of them has a 25% stake in the company.

According to the information of the State Assets Management Agency, the value of the privatization deals totaled 210.1 billion soums based on the conclusion of the evaluation company.

While purchasing the state share in the company, the other founders used the preferential right in accordance with the law “On Limited Liability and Additional Liability Companies”.

“75% of the state’s share in the company’s charter fund is acquired by the remaining 4 participants of the company, using the preferential right, 18.75% each in proportion to the amount of their shares, in accordance with the requirements of the Law of the Republic of Uzbekistan “On Appraisal Activities” and the National Standard of Property Appraisal. Thus, a desire to purchase the state share in the authorized capital of the company was expressed at the value assessed by the independent appraiser “Real Excellent Valuation” LLC attracted by the State Assets Management Agency.

Accordingly, purchase and sale contracts were signed for the sale of 75% of the state share of the “Uniform All-Republic Processing Center” LLC to the remaining 4 participants of the company at a value proportional to the amount of their shares, totaling 210.1 billion soums.

On the other hand, in accordance with these contracts, these funds received in the privatization fund of the State Assets Management Agency in September of this year were distributed in accordance with the procedure established by the law,” the agency reported.

It is worth noting that the information about the privatization that happened last month was given only after the news about it spread in the mass media by the middle of October.

It should be recalled that in May 2020, businessman Oybek Tursunov acquired the right to own 75% of Uzcard. But after some time, Tursunov’s 75% share was transferred to 5 state banks – Uzmilliybank (51%), Asakabank (6%), Ipotekabank (6%), Uzsanoatqurilishbank (6%), Aloqabank (6%).

In August 2022, it was announced that a total of 75% of the share of 5 state banks in the authorized capital of the company was transferred to the State Assets Management Agency and this share will be sold in full.