{"id":93241,"date":"2024-06-26T00:00:00","date_gmt":"2024-06-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/bond-investments-snags-uzbekistan-based-poytakht-bank-for-usd-10-mn\/"},"modified":"2024-06-26T00:00:00","modified_gmt":"2024-06-26T00:00:00","slug":"bond-investments-snags-uzbekistan-based-poytakht-bank-for-usd-10-mn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/06\/26\/bond-investments-snags-uzbekistan-based-poytakht-bank-for-usd-10-mn\/","title":{"rendered":"Bond Investments snags Uzbekistan-based Poytakht Bank for USD 10 mn"},"content":{"rendered":"

Das Holding<\/a><\/strong> subsidiary<\/strong> Bond Investments is set to acquire 100% of Uzbekistan-based Poytakht<\/strong> Bank from Uzbekistan's State Assets Management Agency <\/strong>(UzSAMA<\/a>) for USD 10 mn, subject to approval from the Central Bank of Uzbekistan, according to a statement<\/a>.<\/p>\n

Bond Investments\u2019 bid stood out:<\/strong> The investment firm\u2019s offer \u201cexceeds both the purchase price offer received from other bidders and the appraised value previously calculated by an independent appraiser,\u201d the statement says. UzSAMA had terminated a previous agreement with Russia\u2019s Expobank for the transaction over geopolitical constraints.<\/p>\n

What\u2019s next? <\/strong>Bond Investments Limited \u2014 known for establishing successful banks, including Islamic and digital banks \u2014 plans to modernize Poytakht Bank with advanced mobile and digital financial technologies. The investment firm has drafted a comprehensive development plan to upgrade the bank's infrastructure.<\/p>\n

The sale comes as a \u201cnew Uzbekistan\u201d looks to privatize some 620 state-owned <\/strong>enterprises <\/strong>and attract foreign investment under Uzbekistan\u2019s President Shavkat Mirziyoyev\u2019s reform agenda. The national plan \u2014 which was launched in 2020<\/a> \u2014 aims to transition Uzbekistan to a market-driven economy. It has so far privatized Ipoteka Bank in 2022<\/a> and the Coca-Cola bottling plant by the Turkish CCI Group in 2021.<\/p>\n

Advisors: <\/strong>Deloitte<\/a> oversaw the tender and led the evaluation process for UzSAMA, while KPMG was the bank\u2019s independent appraiser.<\/p>\n","protected":false},"excerpt":{"rendered":"

The UAE investment entity\u2019s bid surpassed competing bids<\/p>\n","protected":false},"author":1,"featured_media":93242,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2392],"tags":[159,7,1344,60,1466],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-93241","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-banking","tag-enterpriseam-uae","tag-ma","tag-ma-watch","tag-uzbekistan","wpautop","entry"],"acf":{"mongo_id":"93277a11-fa64-473d-b21c-d3be9336546d","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/1922.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Bond Investments Limited snags Uzbekistan-based Poytakht Bank for USD 10 mn","related_issue":[93231],"teaser":"The UAE investment entity\u2019s bid surpassed competing bids","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.bf8a2b64-82d3-4a19-9b79-0aba704aa684.mp3"},"yoast_head":"\nBond Investments snags Uzbekistan-based Poytakht Bank for USD 10 mn - 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