Kamilov's company acquires state stake in “Trest-12”

A company owned by Daniyor Kamilov, the 53-year-old son of former Uzbek Foreign Minister Abdulaziz Kamilov, who currently serves as the President's Special Representative for Foreign Policy, has acquired a 51.12 percent state stake in the construction company "Trest-12". The State Assets Management Agency of Uzbekistan reported the transaction.  

According to the agency, the privatization consultant conducted extensive marketing efforts and sent investment teasers to potential investors. As a result, expressions of interest were received from four foreign and local investors.  

Following this, the consultant invited three applicants who met the pre-established criteria to participate in the next stage of the privatization process — submitting binding offers (BO).  

Applicants who signed a Non-Disclosure Agreement (NDA) were granted access to comprehensive due diligence reports prepared by the consultant, covering the enterprise’s financial, tax, legal, and environmental activities. They also had the opportunity to meet with the company's management.  

Within the designated timeframe, the consultant received binding offers from two applicants. The winning bid came from LLC "Delta Global Dynamics", which offered the highest purchase price of 111 billion sums.  

For reference, Daniyor Kamilov is the 100 percent owner of LLC Delta Global Dynamics.  

Daniyor Kamilov, born in 1972, is reportedly a Russian citizen. He holds a degree in economics, having graduated from the Moscow Institute of International Relations and Moscow State University. Some sources claim he built his financial influence in Russia with the support of oligarch Alisher Usmanov.  

According to "Forbes.ru", Kamilov previously served as first vice president of "Gazprombank" and was a member of the board of directors of the bank's "OMZ" machine-building holding and its subsidiaries.  

By 2022, he had become the beneficial owner of the Ural Mining and Metallurgical Company (UKMK), Russia’s largest copper producer and the ninth-largest in the world. That year, UKMK’s core assets, including "Kuzbassrazrezugol", "Ugol-Trans", "Rosterminalugol", and "Vostochny Port", reported a combined revenue of nearly 890 billion rubles (7.1 billion US dollars) and a total net profit exceeding 190 billion rubles (15 million US dollars).  

Kamilov has several businesses registered in Moscow. He is the founder of multiple companies, including LLC "Selena", "KTS", "VLK", "Holding Invest", and "Glomaks".  

north_east

Russian sources frequently refer to Kamilov as an oligarch, though neither Russian nor Uzbek reports specify his net worth. However, his companies have been expanding into Uzbekistan in recent years.  

In February 2022, one of Kamilov’s companies, First Premium Alliance, privatized Kokand Biochemistry JSC, Uzbekistan’s largest alcohol plant, for 277 billion sums. First Premium Alliance, established in December 2020, specializes in the wholesale and retail trade of alcoholic beverages.  

Another Kamilov-owned firm, Metropol Group LLC, purchased the former State Security Service headquarters on Sayilgoh Street in Tashkent in June 2021 for 210 billion sums. At the time of the sale, the building was listed as a cultural heritage site in Uzbekistan’s National Register of Real Estate Objects of Material Cultural Heritage. Despite public opposition, the building was sold.  

Two days later, a Cabinet of Ministers resolution removed the building from the cultural heritage list. It was subsequently demolished to make way for the Radisson Collection Hotel, which is currently under construction.