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EBRD to help sell state share in Coca Cola Uzbekistan

Business Materials 21 September 2018 10:45

Baku, Azerbaijan, Sept. 21

By Fikret Dolukhanov – Trend:

The European Bank for Reconstruction and Development (EBRD) will help the Coca Cola Ichimligi Uzbekiston Ltd. joint venture with the sale of the state share, the Finance Ministry of Uzbekistan announced referring to the results of a meeting between Deputy Prime Minister of Uzbekistan, Finance Minister Jamshid Kuchkarov and representatives of Coca Cola (US) and Coca Cola Icecek (Turkey).

O’zbekozikavkatholding state holding company owns a 57.1 percent share in the Coca Cola Ichimligi Uzbekiston Ltd., with a 42.9 percent belonging to The Coca Cola Export Corporation.

Coca Cola Ichimligi Uzbekiston Ltd. has been operating since 1993. To date, the JV owns three plants in Uzbekistan, located in Tashkent, Namangan and Urgench. There are 10 production lines in the factories, where nine types of soft drinks are produced under the Coca Cola, Fanta, Sprite, Bonaqua and Fuse Tea trademarks.

Coca Cola Ichimligi Uzbekiston Ltd. is the only food industry enterprise in Uzbekistan with four ISO international quality certificates.

In a period from 1992 to 2010, EBRD invested 894 million euros in 54 projects in Uzbekistan. As a result of revitalization of relations following the significant changes in the country by the end of 2017, the bank, for the first time after a seven-year hiatus, signed agreements on six new projects in the country for a total amount of over 153 million euros.

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