Five major international market concentration deals of Uzbekistan in 2019

Business Materials 14 January 2020 12:52 (UTC +04:00)
Five major international market concentration deals of Uzbekistan in 2019

BAKU, Azerbaijan, Jan. 14

By Fakhri Vakilov - Trend:

Uzbekistan’s Antimonopoly Committee has published information on five large deals on market concentration, which were approved in 2019, Trend reports citing the committee.

The first is a deal between the Georgian TBC Bank Group and the Uzbekistan's Inspired LLC Payme e-commerce system.

Payme is the leading provider of payment services in the country with a user base of 1.3 million customers. Georgian TBC Bank, having bought a stake in Inspired LLC. The acquisition of Payme is expected to increase the total number of users served by the TBC Group and its subsidiaries to 3.7 million.

Today, TBC Bank Group is actively introducing digital services in Uzbekistan - expanding the list of Payme services, launching an online ticket service, launching the Vendoo trading platform and is working to create a digital bank.

Second deal was between French Lactalis and a plant in Uzbekistan owned by Nestle and B.S.A. International (Belgium). In 2019, Lactalis acquired Nestle's water and dairy businesses in Uzbekistan, including two factories located in Namangan.

Lactalis is an international French private dairy concern, founded in 1933. The company is present in 148 countries and is the third largest producer of dairy products in the world. It owns 211 factories around the world.

The third is a deal between the Chinese Sinotruk and JV MAN Auto-Uzbekistan. In 2009, the Chinese corporation established a strategic partnership with German MAN, as a result of which the German manufacturer became the holder of 25 percent + 1 shares in Sinotruk.

Today, the MAN range comprises more than 60 types of trucks of the CLA, TGM, TGS series. The registration procedures for the transaction are nearing completion.

The next in line is the deal between the Uzbek-Omani investment company and SD Mall (Samarqand Darvoza shopping center) and Magic fruit (Compass shopping center).

In 2017 and 2018, the Uzbek-Omani investment company invested in several enterprises in Uzbekistan. In 2019, the company conducted two transactions for the purchase of 2 large shopping and entertainment centers.

Samarqand Darvoza and Compass, the largest shopping and entertainment centers in Uzbekistan, are part of The Tower Mall Management Group.

The fifth deal in 2019 was between Hightex Singapore PTE and the UZTEX Group. Hightex Singapore PTE, a private company established in 2015 and specializing in the wholesale of textiles and leather, acquired a stake in the UZTEX Group.

Today UZTEX is the leader in production in the textile industry of Uzbekistan and the largest exporter of textile products in the CIS. It consists of eight large factories located throughout the country.


Follow author on Twitter:@vakilovfaxri