Photo: sputniknews.uz
Turkish company Anadolu Isuzu has agreed to acquire 75.2% of the Uzbek government’s stake in the joint venture Samarkand Automotive Plant (SamAuto) for $80 million, the press service of Uzbekistan’s Agency for Management of State Assets (AMSA) reported.
The agency noted that the investor’s offer falls within the valuation range established by the deal’s financial advisor, international firm KPMG, and aligns with the assessment of independent appraiser PwC.
In addition to purchasing the government stake for $80 million, the Turkish partners plan to invest an equal amount in the plant’s development.
Anadolu Isuzu has committed to establishing production of large-capacity buses and electric buses (12–18 meters) in Uzbekistan, creating licensed service centers across the country, and exporting products to Central Asia, the South Caucasus, the Middle East, and Africa. This initiative is expected to contribute to the development of a regional transport hub in Uzbekistan.
Uzbek officials stressed that the sale of the Samarkand plant stake is part of the country’s privatization program. Current JV shareholders include Japanese companies Itochu and Isuzu Motors, each holding 12.4%. According to AMSA, these Japanese corporations support Uzbekistan’s decision to sell its stake to the Turkish company.
However, the deal still requires approvals from Turkish regulatory authorities, the agency noted.
Anadolu Isuzu was founded in 1965 as part of the Anadolu Group (Çelik Montaj). The holding has prior experience in Uzbekistan: in 2021, it acquired 57.1% of the government stake in Coca-Cola Ichimligi Uzbekistan LLC for $252.2 million and subsequently invested another $250 million to build two major plants and modernize one production facility.
The Samarkand Automotive Plant was established in 1996 in partnership with Turkey’s Koc Holding on the basis of the AvtoVAZagregat enterprise. Today, the JV produces trucks and buses using Isuzu chassis and manufactures Isuzu D-Max pickups.
