The State Assets Management Agency of Uzbekistan announced the successful completion of the international privatization process for Universal Mobile Systems LLC (MobiUz).

Over 15 investors from the US, Japan, Gulf states, Europe, and the South Caucasus participated in the process.

To maximize state benefit, the process was structured to attract the most competitive bids. The winning bid came from a consortium of financial investors led by McKim and Company, with technology partner JVR Enterprises LLC (USA).

The bid values MobiUz at $351 million and includes plans to invest up to $500 million in developing telecommunications infrastructure.

The agency noted that the price corresponds to an EV/EBITDA multiple of 7.4x, reflecting high deal efficiency and significantly exceeding the independent appraiser's valuation.

Final closing of the deal requires regulatory approvals and completion of corporate and legal procedures.

Source: uznews.uz