Tashkent, Uzbekistan (UzDaily.com) — Uzbek-Korean joint venture Uz-Dong Won Ko (Best Pipe and Parts) has won the tender for acquiring the state-owned stake in "Avtokomponent."

The Agency for State Asset Management reached an agreement to sell its share after evaluating two binding offers submitted as part of the tender for purchasing 98.8% of the company’s shares.

Uz-Dong Won Ko offered 105 billion soums, exceeding the asset’s estimated value. The deal has been approved by the State Commission for Privatization.

Under the agreement, the buyer is committed to maintaining the company’s business profile for at least 10 years, complying with licensing agreements for technical support from a supplier approved by General Motors, and adhering to GM-related equipment operation requirements.

Founded in 2010, Avtokomponent LLC specializes in manufacturing profiles, mufflers, exhaust systems, and round pipes for automobiles. The company's authorized capital amounts to 969.5 million soums, and the privatization process began in August.