Turkish CCI buys shares of Coca-Cola Bottlers Uzbekistan

Business Materials 30 September 2021 10:20 (UTC +04:00)
Turkish CCI buys shares of Coca-Cola Bottlers Uzbekistan

BAKU, Azerbaijan, Sept. 30

By Fakhri Vakilov – Trend:

The Agency for State Assets Management of Uzbekistan (ASAM) and the Turkish Coca-Cola İçecek (CCI) signed an agreement to purchase 57.118 percent of the shares of Coca-Cola Bottlers Uzbekistan, Ltd (CCBU), Trend reports referring to the Ministry of Finance of Uzbekistan.

On August 6, 2021, CCI signed an Agreement with ASAM to purchase shares in the open sale process for the privatization of CCBU. On September 29, the acquisition was officially completed with the receipt of relevant and customs permits, including state ones.

The closure was announced during the 2021 Tashkent Economic Forum, held by the Ministry of Finance of Uzbekistan.

As a result of the completion, CCI paid the purchase price of $252.28 million paid to ASAM and became the owner of 57.118 percent of CCBU's shares. The remaining stake in CCBU is indirectly owned by The Coca-Cola Company.

CCI is an international beverage company that operates in Turkey, Pakistan, Kazakhstan, Azerbaijan, Kyrgyzstan, Turkmenistan, Jordan, Iraq, Tajikistan, and Uzbekistan. As one of the key suppliers of the Coca-Cola system, CCI manufactures, distributes, and markets carbonated and non-carbonated drinks for The Coca-Cola Company.

CCI shares are traded on the Istanbul Stock Exchange (Borsa İstanbul) under the symbol CCOLA.IS, and Eurobonds are traded on the Irish Stock Exchange under the symbol CCOLAT.

Coca-Cola Bottlers Uzbekistan is the largest producer of carbonated soft drinks in Uzbekistan with production facilities in Tashkent, Namangan, and Urgench, as well as a network of warehouses. At the end of 2020, the company's net profit amounted to $19.1 million.


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