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Supreme Economic Court of Uzbekistan rejected UzCarlsberg cassation

Business Materials 18 October 2012 20:07 (UTC +04:00)
Supreme Economic Court of Uzbekistan rejected UzCarlsberg cassation, wholly owned subsidiary of Carlsberg Group, on the decision of the lower court on the money count of the tax authorities, for a total of about nine billion soum, a representative of the court told Trend on Thursday.

Uzbekistan, Tashkent, Oct 18 /Trend D. Azizov /

Supreme Economic Court of Uzbekistan rejected UzCarlsberg cassation, wholly owned subsidiary of Carlsberg Group, on the decision of the lower court on the money count of the tax authorities, for a total of about nine billion soum, a representative of the court told Trend on Thursday.

Tashkent City Economic Court supported the demands of the tax authorities in August and rejected UzCarlsberg appeal in September.

Currently, the representatives of UzCarlsberg are unavailable for comment.

UzCarlsberg joint venture's financial and economic activity has been thoroughly examined since mid. 2011. The employees of the prosecutor's office also attended the monitoring.

A number of tax claims and assessed financial penalties for a total of about nine billion soum were presented as a result of audit in January 2012. Three employees of UzCarlsberg was prosecuted.

In addition to tax claims, the company was accused of concealing the proceeds from the sale of unrecorded production. According to the tax authorities, UzCarlsberg produced 16.6 thousand hectoliters of unaccounted raw materials in 2008-2010 and illegally sold the amount.

As reported earlier, in June 2012 UzCarlsberg suspended its activities - stopped producing and sent its employees on unpaid leave until September.

Only specialists dealing with the technological equipment and some managers worked at the enterprise.

Beer production wasn't resumed in September.

According to unofficial information, Carlsberg Group is seeking a buyer for its business in Uzbekistan. According to unconfirmed reports, the negotiations for the sale of UzCarlsberg are conducted with a group of companies Efes.

SP Sarbast Plus was founded in 2006 by Baltic Beverages Holding (BBH) and Uzbek Sarbast Plus. The share of the foreign partner in the joint venture was 75.1 percent, the Uzbek side - 24.9 percent.

Carlsberg Group acquired BBH's assets and became a full owner of all BBH's assets, including Sarbast Plus in 2008.

Carlsberg Group bought out Uzbek partner Sarbast Plus's share in July 2009. Today, the total investment in the project amounted to over $ 100 million.

UzCarlsberg has released seven brands of beers: four brands of Sarbast beer of premium segment Tuborg Green brand, as well as three brands of licensed beer Baltika. UzSarlsberg also produced soft drink - kvass "Xlebniy kray".

According to official statistics, beer production in Uzbekistan decreased by 7.2 percent in 2011 compared to 2010 - up to 23.236 million dal.

Official exchange arte on Oct 18 1949.15 Soum/$1

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