Uzbekistan decides to get rid of state share in Pepsi
Baku, Azerbaijan, February 21
By Fakhri Vakilov - Trend:
Uzbekistan sells 24 percent of the state share in joint venture International Beverages Tashkent, which controls the Pepsi trademark, Trend reports via Uzbek media.
Uzbek State Statistics Committee underlines that, currently, the state represented by the State Assets Management Agency owns 24 percent; the remaining 76 percent belongs to Holten Group Corp.
In the presidential decree "On additional measures for the effective use of state-owned facilities" of February 19, a block of shares of 24 percent is on the list of state-owned objects to be sold in the prescribed manner. In the coming months, it is necessary to determine the price and time of putting the asset up for auction.
International Beverages Tashkent is responsible for the Zip, 7up, Adrenaline Rush, Lipton and Mirinda trademarks. The company's plant opened in 2011 on the basis of beverage manufacturer Sebur.
Uzbek Ministry of Finance began looking for a strategic investor in the Coca-Cola Ichimligi Uzbekiston Ltd. joint venture In 2018, where 57.1 percent is owned by the state holding company Uzbekozikovkatholding and 42.9 percent by The Coca-Cola Export Corporation.
Uzbekozikovkatholding is expected to sell its share to a foreign investor, and the European Bank for Reconstruction and Development will act as an intermediary and help with the transaction. Nowadays, there are three factories in the country - in Tashkent, Namangan and Urgench, which produce beverages under the trademarks Coca-Cola, Fanta, Sprite, BonAqua and FuseTea.
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