Baku, Azerbaijan, Feb. 15
By Fakhri Vakilov - Trend:
Kuwaiti company Alshaya Group was offered to buy out the state share in the "Uzbekistan" hotel, Trend reports via the Uzbek media.
Uzbek Ministry of Investment and Foreign Trade made this proposal after negotiations with the Alshaya Group delegation, headed by the executive director Mohammed AlShaya.
"The purpose of negotiations was to discuss the prospects for the holding's investment presence in Uzbekistan, particularly in the tourism industry. Alshaya Group's delegation expressed interest in the development of the hotel business, both through construction of new buildings and privatizing the existing facilities that need reconstruction for further use. One of such facilities could be the 'Uzbekistan' hotel,” the Ministry of Investment and Foreign Trade reported.
Recently, the Uzbek government put up for sale its share of 80.13 percent in the "Uzbekistan” hotel, setting a starting price of $33 million.
Alshaya Group is one of the largest companies in the world. Alshaya Group operates franchise brands such as Starbucks, H&M, Mothercare, Debenhams, American Eagle Outfitters, P.F. Chang’s, The Cheesecake Factory, Victoria’s Secret, Boots, Pottery Barn, KIDZ in the Middle East, Russia, Turkey, Azerbaijan, Kazakhstan and several European countries.
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