BAKU, Azerbaijan, June 5
By Ilkin Seyfaddini – Trend:
Government of Uzbekistan has sold 100 percent of its stake in the Shahrisabz Star Hotel via online auction, Trend reports citing the State Asset Management Agency.
The winner of the auction, Asadbek-Kesh company, bought back the shares for 6.6 billion soum ($648,349).
Shahrisabz Star is a three-star hotel in Shahrisabz city of Uzbekistan, which was built in 2010. Its total area is 9,330 square meters, and the building area is 1,661 square meters.
Net proceeds as of October 1, 2018, amounted to 569 million soum ($55,895), and the authorized capital stands at 5.8 billion soum ($569,761).
The hotel was first put up for auction over a year ago. Initially, the starting price was 13 billion soum ($1.2 million).
The sale of the state share in Shahrisabz Star Hotel has been held according to the presidential decree on attracting foreign investment into the economy dated April 29, 2019.
Recently, government of Uzbekistan sold a 25-percent stake in Kafolat Insurance Company to Uzbekistan's Genesis Innovation company.
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