BAKU, Azerbaijan, Jan. 12
By Klavdiya Romakayeva - Trend:
Austrian LUKOIL International GmbH acquired a 51-percent stake in the authorized capital of motor fuel retail LUKOIL Uznefteprodukt LLC, Trend reports referring to the press service of the Antimonopoly Committee of Uzbekistan.
The Antimonopoly Committee and its territorial departments during 2020 received 153 applications for obtaining preliminary consent on transactions for the merger, merger of economic entities and the acquisition of shares (stocks) in the authorized capital (fund) of economic entities.
According to the information, 37 of them are related to mergers and acquisitions of economic entities, 116 - to the acquisition of shares and 35 of these appeals belong to foreign investors.
All applications received in 2020 were studied in detail, after which the committee approved transactions for 3,303 billion soums ($315 billion), 59 percent of which or 1,957 billion soums ($187 billion) accounted for by foreign investors.
It was noted that investors are expected to invest mainly in textiles, pharmaceuticals, information technology, electrical engineering, construction, agriculture, food processing and other industries in the form of direct funds and modern technologies.
One of such applications approved by the Antimonopoly Committee in 2020 was made by Sweden Société des Produits Nestlé S.A. which acquired a 99.99 percent stake in the established fund of Nestle Food LLC PE (wholesale trade in food).
Also, Kizilqum Fosforit Kompleksi LLC merged with Olmaliq Kon-Metallurgiya Kombinati JSC. The type of activity of Olmaliq Kon-Metallurgiya Kombinati JSC is the extraction of non-ferrous metal ores.
At the same time, cases were initiated on violation of the requirements of the Law "On Competition" in respect of five economic entities in terms of conducting transactions on mergers and acquisitions of shares (stakes) of economic entities without obtaining the prior consent of the antimonopoly authority.
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