Uzbekistan has completed the collection of bids for the purchase of the government’s stake in the Coca-Cola Ichimligi Uzbekiston company from companies from Asia, Europe, America and even Africa.
"Bids for acquiring the government’s stake were accepted until January 15, 2021. In particular, proposals were received from a number of applicants from Asia, Europe, America and Africa. All bids were reviewed in coordination with the second owner. As a result, a shortlist was made of those meeting the established criteria. They were promoted to the next stage," the State Assets Management Agency noted.
The process of negotiations with the bidders will continue with the participation of international consultants - investment bank Rothschild & Cie (financial consultant, France) and the law firm Dentons (legal consultant, UK).
At this stage, non-disclosure agreements will be entered into with the bidders. They will be provided with additional information about the company, including an information memorandum, financial statements, business plan, reports on the findings of the study of legal, financial and tax aspects of activities.
Note: In December last year, the sale of a 57.1% stake in Coca-Cola Uzbekistan started.
After about two months, on January 25, the Anti-Corruption Agency proposed to suspend the tender due to its receiving letters from a number of businesses, who noted that the sale of the state’s stake of 57.1% in Coca-Cola was carried out in violation of legislation. The agency's specialists studied this issue and proposed to suspend the tender.
The next day, the Anti-Corruption Agency suddenly changed its mind about suspending the tender, claiming that it received exhaustive clarifications.
