State Stake in UzChasys Sold for Nearly 333 Billion Soums

Tashkent, Uzbekistan (UzDaily.com) — An electronic auction on the E-auksion platform has resulted in the sale of the state share in the joint venture UzChasys, located in Uzbekistan’s Namangan region.

The State Assets Management Agency put a 70% stake in the enterprise up for sale in April this year. The plant specializes in manufacturing automotive lighting equipment.

The auction lasted 51 minutes. The winning bid was placed by Best Pipe and Parts, which offered 332.96 billion soums after 16 bidding rounds. The final price was 80% higher than the starting valuation of the asset.

Under the terms of the transaction, if the buyer refuses to sign the contract or fails to make payment within five working days, the offer will be transferred to the participant with the second-highest bid. If that participant also refuses, the asset will be re-auctioned.

The buyer is required to maintain the core business profile of the enterprise for at least 10 years. In addition, any transactions involving the purchase or sale of production equipment must be coordinated with Uzavtosanoat.

The agreement also requires compliance with existing licensing agreements for technical support and the main alliance agreement governing the use of General Motors technologies.

Best Pipe and Parts was registered in 1996 and is engaged in the production of automotive components and accessories. The company previously operated under the name Uz-Dongwon Co.

According to the Unified State Register of Enterprises and Organizations, the company’s largest shareholder is UzAuto Korea with a 42.3% stake. Another 24.44% belongs to UzAutoComponents, 24% to South Korea’s Dongwon Metal, and 9.26% to Salima Tashkuzieva.

In February 2025, Best Pipe and Parts acquired a 98.8% stake in Avtokomponent for 105 billion soums, and in August it acquired 100% of Avto Climate Control, a manufacturer of automotive air conditioners, for 230 billion soums.

UzChasys was established in 2008 as a joint venture between Korea’s AMS Co Ltd and Uzavtosanoat. The production complex is located in the Davlatabad district of Namangan region and covers an area of 4.14 hectares.

The company’s charter capital is US$6.46 million. The book value of fixed assets is estimated at 86.89 billion soums, with a depreciation level of 71%. Current assets amount to 169.2 billion soums, receivables total 18.1 billion soums, and total liabilities stand at 100 billion soums.

UzChasys recorded a net profit of 40.76 billion soums in 2025. The company employs more than 1,000 people.

The State Assets Management Agency had first put the 70% stake in UzChasys up for auction in November 2024. By August 2025, five local and foreign investors had expressed interest in the asset.

In addition, a 50% state stake in UzSungwoo in the Fergana region was also listed on E-auksion this spring, with bidding scheduled for June 1.