Uzbek State Stake in UzSungwoo Sold for 585.8 Billion Soums

Tashkent, Uzbekistan (UzDaily.com) — The 50% state stake in UzSungwoo, a joint venture producing automotive components for UzAuto Motors, has been sold for 585.82 billion soums through an electronic auction on the E-auction platform. The buyer is Roodell.

The starting price of the asset was 390.54 billion soums. During the auction, the value increased by approximately 195.3 billion soums, or about 50%. This implies an estimated total valuation of the company of around 1.17 trillion soums.

According to official data, four companies expressed interest in the asset. The auction took place on June 1 and lasted 24 minutes, during which 10 confirmed bids were registered.

According to the Unified State Register of Enterprises and Organizations, the company is owned by the State Assets Management Agency with a 50% stake, Sungwoo Hitech Co., Ltd. with 40%, and I-zone Co., Ltd. with 10%. The charter capital of the company is US$14 million.

The enterprise is located in Ferghana and specializes in producing stamped and welded parts for Chevrolet Cobalt vehicles manufactured by UzAuto Motors. Its production capacity is 120,000 sets of components per year, covering 183 types of parts for the Cobalt model.

In 2022, UzSungwoo commissioned a modern hot stamping and metal heat treatment workshop.

The project enabled localization of 20 types of components for Chevrolet Tracker and Onyx vehicles worth more than US$19 million.

According to privatization documents, the enterprise occupies a 6.5-hectare site, including a three-story administrative building and production facilities covering 21,600 square meters.

The company’s book value was estimated at 396.96 billion soums, with depreciation at 64%. Current assets totaled 493.6 billion soums, receivables stood at 97.75 billion soums, and liabilities at 301.6 billion soums.

As of October 1, 2025, UzSungwoo reported a net profit of 146.59 billion soums. The average number of employees was 1,060.

Under the terms of the deal, the investor is required to maintain the company’s core operations for at least 10 years.

Any transactions involving production equipment must be approved by Uzavtosanoat. The buyer is also required to comply with licensing requirements for technical support and the use of General Motors technologies.

Roodell is part of the ADM Global group, operating in vehicle sales, production, maintenance services, logistics, leasing, and spare parts supply. The group is linked to the ADM Jizzakh plant, where Kia, Chery, Haval and other brands are assembled. The group’s dealer network includes more than 90 official centers across Uzbekistan.

The founders of Roodell are Mirbakhrom Asrorov (33.35%), Daniyar Davletiyarov (33.33%), and Murod-Mirza Sharipov (33.32%). The company was registered in May 2012 and specializes in wholesale trade of cars and light vehicles.

Earlier in the automotive sector, another major privatization deal was completed: Best Pipe and Parts acquired a 70% state stake in automotive lighting producer UzChasys for nearly 333 billion soums.

Prior to that, the company also acquired a 98.8% state stake in Autocomponent and a 100% stake in Avto Climate Control.