Russian company gets part of Uzbekistan Railways' shares in coal enterprise
Baku, Azerbaijan, Dec. 24
By Fikret Dolukhanov – Trend:
A package of shares of Uzbekistan Railways in the authorized capital of O’zbekko’mir (Uzbek Coal) JSC will be transferred to the Russian company Progress Gor Tech, Trend reports on Dec. 24 referring to Uzbek media.
The decision was made by the Government of Uzbekistan in its decree “On measures to improve the efficiency of O’zbekko’mir JSC”.
According to the document, the Russian company will receive 45 percent of shares in the authorized capital of O’zbekko’mir in trust management.
To manage the coal enterprise, Progress Gor Tech will establish a subsidiary in Uzbekistan.
It is also noted that O’zbekko’mir will retain the organizational and legal form of a joint stock company for the period of trust management.
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