The state-owned stake in the UzSungwoo joint venture, which manufactures automotive components for UzAuto Motors in Uzbekistan, has been sold via electronic auction for 585.82 billion soums (approximately $49 million), the E-auksion platform said in a report.
Local automotive company Roodell emerged as the winning bidder, securing the 50% equity stake.
The lot opened with a starting price of 390.54 billion soums. The final transaction exceeded the baseline by approximately 195.3 billion soums—a 50% premium. Based on this final valuation for half of the enterprise, the market assesses the total value of the joint venture at roughly 1.17 trillion soums.
Four corporations had previously expressed formal interest in the bidding process. The auction took place on June 1 and wrapped up in just 24 minutes, recording a total of 10 verified bidding increments.
According to the Unified State Register of Enterprises and Organizations, the equity owner of UzSungwoo prior to the sale were the State Assets Management Agency (50%), South Korea’s Sungwoo Hitech Co., Ltd. (40%), and I-zone Co., Ltd. (10%).
Located in Fergana near the international airport, the manufacturing plant specializes in producing stamped and welded structural parts for the Chevrolet Cobalt models rolled out by UzAuto Motors. The facility possesses an annual production capacity of 120,000 component kits, spanning 183 distinct types of stamped and welded parts and sub-assemblies for the Cobalt lineup.
In November 2022, UzAuto launched a state-of-the-art metal heat treatment facility at the UzSungwoo plant [1]. Establishing this fully automated hot-stamping metal processing workshop enabled the localized production of 20 distinct types of components for the Chevrolet Tracker and Onix models, generating an import substitution value of over $19 million.
According to data previously disclosed during the asset listing, the manufacturing complex spans 6.5 hectares and features a three-story administrative building alongside production facilities with a combined footprint of 21,600 square meters.
Roodell is a prominent automotive enterprise operating under the ADM Global group umbrella. The company's diverse portfolio encompasses vehicle manufacturing, retail sales, maintenance services, logistics, commercial leasing, and spare parts distribution. The group is closely tied to the ADM Jizzakh plant, which manages the domestic assembly of Kia, Chery, Haval, and several other global brands. According to corporate figures from ADM Global, the group’s expansive dealer network includes more than 90 official service centers across Uzbekistan.
Public records indicate that the company is owned by three individual shareholders: Mirbakhrom Asrorov (33.35%), Daniyar Davletiyarov (33.33%), and Murod-Mirza Sharipov (33.32%). Daniyar Davletiyarov also serves as the chief executive officer. Listed primarily as a wholesaler of passenger cars and light commercial vehicles, the enterprise was officially incorporated on May 10, 2012.
This transaction follows a broader wave of privatization within the sector. In late May, Best Pipe and Parts successfully secured a 70% state-owned stake in UzChasys—a leading automotive lighting manufacturer based in the Namangan region—for nearly 333 billion soums.
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