The Uzbek government has pledged to sell its controlling stake in Coca-Cola Bottlers Uzbekistan, Ltd, a joint venture with Coca-Cola, as part of a current sweeping privatisation programme in the Central Asian country.
Turkey’s Coca-Cola İçecek (CCI) A.Ş., one of the key bottlers in Coca-Cola’s global system, is to pay $252.28m for the 57.12 per cent stake under an agreement that multinational financial group Rothschild & Co has helped negotiate as financial adviser, Uzbekistan’s State Assets Management Agency (UzSAMA) said in a statement on August 6.
The deal, in which UzSAMA represents Uzbekistan’s government, has been endorsed by the country’s State Tender Commission but as of August 6 was awaiting further regulatory approvals.
Coca-Cola Bottlers Uzbekistan operates three production facilities in Tashkent, Namangan and Urgench. It generated a net profit of 205bn som ($20.5m) for 2020.
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