On December 16, 2020, the State Assets Management Agency, Ltd. announced the end of the next stage of bidding for sale of the government’s stake in Coca-Cola Ichimligi Uzbekistan. According to the agency, as per the decision of the State Tender Commission, non-disclosure agreements were entered into with the bidders who qualified for the second stage.
Rothschild & Cie Investment Bank, a financial advisor, sent a letter to the bidders, detailing the financial statements of Coca-Cola Ichimligi Uzbekistan, Ltd for 2017, 2018 and 2019, the business plan and the financial, tax, organizational and legal aspects of the company's activities.
It was reported that to date bidders sent non-binding (indicative) offers to buy the stake. These proposals were studied jointly by Rothschild & Cie Investment Bank and Dentons Law Firm, with decisions taken to on qualifying them to the next stage by the decision of the State Tender Commission.
Currently, the State Assets Agency, together with KPMG audit company and Dentons law firm, has created a virtual database containing financial, legal, organizational and other information of the company for use by bidders.
At this stage, bidders applicants will be given the opportunity to conduct additional research on the company using a virtual database, participate in the presentation of the company, communicate with company management and attend a Q&A session.
For information, Coca-Cola Ichimligi Uzbekistan, Ltd is the largest producer of soft drinks in Uzbekistan. The company entered the country in 1993 and the first domestic manufacturing plant was launched in March 1994.
At present, the government’s stake in the company is 57.1%, whilr Coca-Cola Export Corporation owns 42.9 percent stake.
Coca-Cola Ichimligi Uzbekistan, Ltd owns a total of 3 production plants in Tashkent, Namangan and Urgench.
