Uzbek government to vend its stake in Pepsi Uzbekistan

The government of Uzbekistan has decided to sell its share in International Beverages Tashkent, which owns the brand Pepsi, Spot writes.

According to the report of the State Statistics Committee, the government has 24% stake in a joint venture in favor of the Agency for State Assets Management and the remaining 76% is owned by the company Holten Group Corp.

Also, the JV LLC International Beverages Tashkent produces products for the Uzbek market under the brands Zip, 7up, Adrenaline Rush, Lipton and Miranda. The plant, which is based on Sebur beverages, has been operating since 2011. It is expected that shortly, prices of the state shares will be announced in the stock market and will be put up for auction.

Earlier, the government decided to sell its state-owned share at Coca-Cola. Last year, the Ministry of Finance held talks with representatives of the European Bank for Reconstruction and Development, the Coca-Cola Company (USA) and Coca-Cola İçecek (Turkey). The EBRD will assist in settlement of the transaction after the issue of attracting strategic investors is resolved.