The State Assets Management Agency is approaching the final stage of sale of the government stake in Coca-Cola Ichimligi Uzbekistan, announced today the agency chief Akmalkhon Ortiqov.
"We are approaching the final stage of the sale of the government stake in Coca-Cola in Uzbekistan," he said at an international privatization forum in Tashkent.
According to him, before the year-end it is planned to sell government shares in Uzagroexportbank and Poytakht Bank, Fergana Oil Refinery, Quartz, Trest-12, Kafolat insurance company and oil-fat companies.
Internationally recognized appraisal companies (KPMG, Deloitte, PriceWaterhouseCoopers, Grant Thornton) were involved in the valuation process to determine the market value of government stake. Pre-privatization preparations are also carried out by internationally recognized consulting companies.
Earlier in 2020, the State Assets Management Agency announced the sale of 57.1% of the authorized capital of Coca-Cola Uzbekistan, and the remaining 42.9% belongs to The Coca-Cola Export Corporation (USA). The state’s plans to sell its stake were announced in 2018.
Coca-Cola Ichimligi Uzbekistan Ltd has been operating since 1993. Today, the joint venture owns three plants in Tashkent, Namangan and Urgench and is the largest producer of carbonated beverages in Uzbekistan. In 2019, the company’s market share was about 47 percent.