Best Pipe And Parts has acquired a 70% state stake in UzChasys, an automotive lighting manufacturer based in the Namangan region. The auction took place on May 25.

The transaction amount reached 332.96 billion soums, which is 80% higher than the starting price of 194 billion soums. The auction lasted approximately 52 minutes.

Under the deal, the buyer must maintain the company's core business for at least 10 years, coordinate a range of tasks including price revisions with Uzavtosanoat, and ensure product compliance with General Motors standards.

Founded in 2008, UzChasys is an OEM (original equipment manufacturer) supplier for GM Uzbekistan. Its technical partners include AMS (South Korea) and Neolit ZKW Lighting (India).

Best Pipe and Parts (known as Uz-Dongwon Co until 2023) has been operating in the market since 1996, specializing in automotive components and accessories. Its authorized capital is 297 million soums. Major shareholders include UzAuto Korea (42.3%), UzAutoComponents (24.44%), South Korea's Dongwon Metal (24%), and Salima Toshqo'ziyeva (9.26%).

Best Pipe and Parts has previously acquired two other automotive enterprises: in February last year, it bought a 98.8% state stake in Avtokomponent for 105 billion soums, and in August, it purchased a 100% state stake in Avto Climate Control, a manufacturer of automotive heating and cooling systems, for 230 billion soums.

Source: www.gazeta.uz