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Thursday 25 June 2020

Uzbekistan to Sell its Stake in Coca-Cola JV


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TASHKENT (Reuters) - The government of Uzbekistan will sell a stake in its joint venture with Coca-Cola through open bidding, it said on Monday, and plans to hire foreign investment banks to arrange the deal.

Uzbekistan holds a 57.1% stake in the company which is one of the biggest players in the soft drinks market of the Central Asian nation of 34 mln.

Uzbekistan’s State Asset Management Agency which announced the sale plans in a brief statement provided no other details of the potential deal.

The Coca-Cola Ichimi Uzbekiston Ltd. JV was established in 1993. Currently, 57.1% of the company’s shares belong to the state holding Uzbekoziqovqatholding, 42.9% to Coca-Cola Export Corporation.

The venture operates three plants in Uzbekistan, located in Tashkent, Namangan and Urgench. The plants run ten lines producing non-alcoholic beverages under the Coca-Cola, Fanta, Sprite, Bonaqua and Fuse Tea brands.

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