The State-Owned Assets Management Agency reached a sale agreement of the government’s 57.118% stake in Coca-Cola Bottlers Uzbekistan (CCBU) to the Coca-Cola İçecek A. Ş group of companies. (CCI, Turkey) through its subsidiary CCI International Holland B. V. for a total of USD 252.28 million, announced today the press service of the agency.
The deal was approved by the Tendering Commission for Sale of State-Owned Property. Closing the deal will require some regulatory approvals.
The deal was launched as an open sale process in line with the presidential decree dated October 27, 2020. Investment bank Rothschild & Co. acted as financial advisor to AUGA, and Dentons as legal advisor.
Coca-Cola Bottlers Uzbekistan is the largest producer of fizzy soft drinks in Uzbekistan, has production facilities in Tashkent, Namangan and Urgench, as well as a network of warehouses. In 2020, the company's net profit topped 205 billion soums.
Coca-Cola İçecek is one of the largest enterprises in the Coca-Cola structure. Its majority owners are Anadolu Efes and The Coca-Cola Company.
The sale of of the government’s 57.118% stake in CCBU was announced by SAMA in December last year. Coca Cola İçecek was one of the first to apply for the tender in early January.