BAKU, Azerbaijan, June 22
By Ilkin Seyfaddini - Trend:
Uzbekistan plans to sell state shares in Coca-Cola Ichimligi Uzbekiston Ltd. at an open auction, Trend reports citing the State Assets Management Agency of Uzbekistan.
"It is planned to involve representatives of reputable international financial institutions, foreign investment intermediaries and audit companies in this process," said the agency.
Joint venture Coca-Cola Ichimligi Uzbekiston Ltd. was established in 1993. Now the controlling block of shares (57.1 percent) of the company is owned by the state holding company Uzbek-Cola Ichimligi Uzbekiston Ltd and 42.9 percent is owned by The Coca-Cola Export Corporation.
The company owns three plants in Uzbekistan, located in Tashkent, Namangan and Urgench cities.
The plants have 10 production lines producing soft drinks under the Coca-Cola, Fanta, Sprite, Bonaqua and Fuse Tea brands.
In December 2019, President of Uzbekistan Shavkat Mirziyoyev ordered to significantly reduce the state's share in the economy. Afterwards, draft strategy for the period from 2020 through 2025, a privatization plan and rules of introduction of corporate governance have been developed.
It is planned to reduce the number of enterprises with state participation by 81 percent, to leave the state only 554 enterprises, and sell the rest.
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