Friday, 05, March, 2021

The State-Owned Assets Management Agency (SOAMA) responded to the Anti-Corruption Agency's demand to suspend the privatization process of Coca-Cola Ichimligi Uzbekiston, Ltd.

The day before, after studying the letters from businesses, the Anti-Corruption Agency demanded to suspend the tender for sale of the state’s stake in Coca-Cola Uzbekistan. The Agency stated that "excessively high criteria and unreasonable requirements" lead to an artificial reduction in the number of bidders and to corruption.

SOAMA stated that the demand from the Anti-corruption agency demanding to stop the tender was received on January 25 and noted that the SOAMA and the working group created by the government resolution did not receive any letters from the Anti-Corruption Agency regarding the sale of the state’s share in the Coca-Cola Uzbekistan company.

In addition, as noted in the message, the Anti-corruption Agency's demand was based on the announcement posted on December 16, 2020. The SOAMA expressed its readiness to cooperate with the Agency and the public "on the organization of a transparent and open privatization process in accordance with international practice."

SOAMA added that in the coming days, the comments of the American company The Coca-Cola Export Corporation, the investment bank Rothschild & Co and the law firm Dentons will be made public on the above requirement.

“Thus, we once again assure the public that the sale of the state’s share in Coca-Cola Ichimligi Uzbekiston LLC is carried out in an honest, open and transparent manner, with the participation of reputable international companies,” the State Asset Management Agency said.

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