BAKU, Azerbaijan, June 4. Uzbekistan has
completed the privatization of MobiUz, selecting an international
investor consortium in a $351 million deal that includes
substantial future investment commitments to support the
development of the country’s telecommunications sector, Trend reports via the State
Assets Management Agency.


The competition to sell the government’s 100% stake in Universal
Mobile Systems (MobiUz) was awarded to investors led by McKim and
Company, in partnership with the U.S. technology partner JVR
Enterprises LLC (JVR Capital Group).


The privatization process was conducted under approved state
programs and structured as an open international tender aimed at
attracting strategic and financial investors.


International advisory support included Rothschild & Co as
strategic adviser, KPMG as financial adviser, and Deloitte as
independent valuer, all ensuring compliance with global transaction
standards.


The sale was actively promoted across international markets
through adviser networks, targeted outreach to more than 100
strategic and financial investors, and global roadshows. The
process was also featured in major financial publications,
including Bloomberg and the Financial Times.


More than 15 investors from the United States, Japan, the Gulf
region, Europe, and the South Caucasus participated in the process,
with 10 submitting initial price offers. Six binding offers were
ultimately received.







Authorities said bidders were provided with full financial and
legal due diligence materials prepared in line with international
standards, and were allowed to improve their final offers in a
competitive stage designed to maximize state value.


The selected bid values MobiUz at $351 million and includes
commitments of up to $500 million in future investment aimed at
developing Uzbekistan’s telecommunications infrastructure.


Officials noted that the implied EV/EBITDA multiple of 7.4x
reflects a competitive valuation compared to similar international
transactions and exceeds the independent assessment of the
company.


The State Assets Management Agency thanked all participating
investors and emphasized the role of international advisers in
ensuring transparency and adherence to global best practices. It
also expressed expectations for continued engagement with global
investors in future privatization initiatives.