Asset deal vs share deal in Uzbekistan

Asset acquisitions in Uzbekistan are used where the buyer does not wish to assume the seller’s historical liabilities, the transaction involves a discrete asset rather than a going concern, or the seller is a state entity disposing of specific assets through the privatisation programme. Each asset class has its own transfer procedure under Uzbek civil law.

Real property acquisition

Transfer of real property in Uzbekistan requires notarisation of the purchase agreement and state registration of the transfer. Bond Stone conducts title searches, verifies the absence of encumbrances and mortgages, and manages the full notarisation and registration process. Note: under Uzbek law, foreign legal entities and individuals have limited rights to own land — long-term lease is the typical structure for real property used by foreign investors.

SOE asset acquisitions — privatisation context

Many asset acquisitions in Uzbekistan arise from the privatisation programme — where the state sells specific assets of a state-owned enterprise rather than the entity as a whole. Bond Stone advises on SOE asset acquisitions — assessing post-privatisation obligations, environmental liabilities from Soviet-era operations, and licence transfer requirements.

Manufacturing equipment and industrial assets

Acquisition of manufacturing equipment and industrial assets — encumbrance search, purchase agreement, customs implications for asset import/export, and transfer of operating licences and permits attached to the assets. Bond Stone advises on structuring equipment acquisitions to comply with Uzbek customs and tax requirements.

Industrial Plant — SOE Asset Sale

Asset Acquisition · Uzbekistan · Manufacturing

Advising a foreign investor on acquisition of an Uzbek state-owned industrial plant — due diligence on assets and licences, post-privatisation obligations, environmental liability assessment, and asset purchase agreement.

Commercial Real Estate — Tashkent

Asset Acquisition · Uzbekistan · Real Estate

Acquisition of commercial real estate in Tashkent — title review, land use right analysis for foreign acquirer, encumbrance search, notarisation, and state registration of ownership transfer.

Manufacturing Equipment — Chinese Buyer

Asset Acquisition · Uzbekistan · China · Manufacturing

Acquisition of manufacturing equipment from an Uzbek company for a Chinese buyer — encumbrance search, purchase agreement, customs analysis for potential cross-border movement, and transfer documentation.

Licence Transfer — Pharmaceutical

Asset Acquisition · Uzbekistan · Pharmaceuticals

Transfer of pharmaceutical manufacturing and distribution licences from a privatised Uzbek SOE to a foreign acquirer — regulatory approval from the Uzbek Ministry of Health, licence amendment, and compliance advisory.

Real Property — Long-term Lease Structure

Asset Acquisition · Uzbekistan · Real Estate

Structuring a foreign investor’s acquisition of Uzbek real property — advising on the long-term lease structure required for foreign legal entities, lease terms, and land use right protections.

Distressed Asset — Enforcement Sale

Asset Acquisition · Uzbekistan · Distressed

Advising a buyer on acquiring Uzbek business assets through an enforcement sale — assessing vulnerability to challenge by the seller’s creditors, acquisition structure, and post-acquisition title security.