Dentons US LLP

09/30/2021 | Press release | Distributed by Public on 10/01/2021 02:50

Dentons advises the State Assets Management Agency of the Republic of Uzbekistan on the sale of state stake in Coca-Cola Bottlers Uzbekistan, Ltd.

September 30, 2021

Tashkent, London-Dentons has advised the State Assets Management Agency of the Republic of Uzbekistan on the US$252.28 million sale of a 57.118% stake in Coca-Cola Bottlers Uzbekistan, Ltd. to Coca-Cola İçecek A.Ş., through its wholly owned subsidiary CCI International Holland B.V. This is one of the first prominent deals in the Uzbek government's plan to speed up the privatization process in the country.

The open sale process was sanctioned by Presidential Decree and conducted in compliance with best international practices and Uzbek law. It was crucial to ensure transparency during the transaction to comply with the principle of 'publicity/transparency' stipulated in the Uzbek Law on Denationalization and Privatisation.

Coca-Cola Bottlers Uzbekistan, Ltd. is one of the leading beverage producers in Uzbekistan. Coca-Cola İçecek A.Ş. - the buyer - is a multinational beverage company aiming to support the further growth of the soft drink industry in Uzbekistan.

Dentons prepared and negotiated the share purchase agreement and other transaction documents, conducted vendor due diligence on the target company, assisted in setting up a virtual data room for the transaction, and provided legal advice on various points arising under Uzbek law.

Partners Eldor Mannopov (Tashkent) and Richard Barham (London) led Dentons' cross-border team on the transaction. The team also included senior associate Igor Pak, associate Sanjar Narzullaev and paralegal Bobur Aminov in Tashkent, and senior associate Adam Knowles in London.

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