Three capital firms from the United States, South Korea, and China have simultaneously reached out to Uzbekistan's automotive giant UzAuto Motors, intensifying a privatization competition surrounding the largest car company in Central Asia.

The Uzbekistan State owned Assets Management Agency has clearly stated that privatization will be carried out entirely through competitive procedures, without any pre-set advantages for any buyers. American, South Korean, and Chinese companies have expressed interest in the acquisition, and the final ownership depends on the international bidding results. The preparation work has been ongoing for about two years. Previously, Alvarez&Marsal, an international consulting firm, was selected through competition to conduct an audit, and it was proposed to sell 99.7% of UzAuto Motors' shares and 100% of Powertrain's shares. Subsequent negotiations will be conducted in two stages: non binding and binding quotations, with a focus on selecting the best option. As a pillar of the automotive industry in Central Asia, its ownership not only concerns the stability of the domestic industrial chain, but may also rewrite the regional competitive landscape.Editor/Min Jing