UAE-based Centrum Aviation acquires Uz-Koram Co for $24 million

The privatization process, facilitated by consulting firm Portfolio Investment, attracted expressions of interest from five local and international investors from Europe, Southeast Asia, and the CIS region. Four bidders advanced to the next stage of submitting binding offers, while one application was disqualified for failing to meet the required criteria.

By the final deadline, two bidders submitted binding proposals. Centrum Aviation emerged as the winner with the highest offer, surpassing the indicative price range provided by the consultant and exceeding the estimated valuation of the enterprise.

Centrum Aviation has committed to maintaining Uz-Koram's core business operations for at least ten years. The agreement also requires adherence to licensing agreements with General Motors-approved technical support providers and compliance with restrictions outlined in the General Motors Main Alliance Agreement on the use of proprietary technologies.

The privatization results have been approved by the State Commission for Privatization and Coordination of State Asset Privatization Processes.

About Uz-Koram Co

Established in 1998 in partnership with South Korean investors, Uz-Koram Co specializes in manufacturing automotive body parts, including front and rear bumpers and panels. The company, which operates under the UzAutoSanoat structure, produces over 250,000 parts annually. In April 2024, Uz-Koram was included in the government’s privatization program.

About Centrum Aviation

Centrum Aviation FZCO is part of the Centrum Holding group. The company’s core activities include air cargo transportation, aviation trade brokerage, and aircraft leasing. Operating in Uzbekistan under the Centrum Air brand, it provides aviation services in the region.