Antimonopoly Committee announces 5 major deals in Uzbekistan in 2019

One of the tasks of the Antimonopoly Committee is to control the economic concentration in the commodity and financial markets by issuing preliminary consent for mergers and acquisitions of the company, purchases of shares. 

According to Spot, the Committee announced several major transactions that were approved last year.

TBC Bank Group/Inspired (Payme)

Payme is one of the leading payment service providers in Uzbekistan with a user base of 1.3 million customers. Georgian TBC Bank, having bought a stake in Inspired, entered the republic’s market with its technologies.

Now, TBC Bank Group is actively introducing digital services in Uzbekistan - expanding the list of Payme services, launching an online ticket service. It is working to create a digital bank. 

Nestlé Uzbekistan/B. S. A. (France) B. S. A. International (Belgium)

Lactalis is an international French private dairy concern, founded in 1933. The company entered the markets of 148 countries and is the third largest producer of dairy products in the world. It owns 211 factories across the globe.

In 2019, it acquired Nestlé’s water and dairy businesses in Uzbekistan, including two factories located in Namangan.

Sinotruck/JV MAN Auto-Uzbekistan

In 2009, Sinotruck established a strategic partnership with MAN, as a result of which the German company became the holder of 25% + 1 shares of Sinotruk.

Now the range includes more than 60 types of MAN trucks of the CLA, TGM, TGS series. 

Uzbek-Omani investment company/SD Mall LLC (Samarkand darvoza shopping center) and Magic fruit LLC (Compass shopping center) 

The Uzbek-Omani investment company actively invested in several enterprises of Uzbekistan in 2017-2018.

In 2019, the company conducted two transactions to purchase two large shopping and entertainment centers. Samarkand Darvoza and Compass, the largest shopping and entertainment centers in Uzbekistan, are part of The Tower Mall Management Group.

Hightex Singapore PTE/UZTEX Group

The private company Hightex Singapore PT, established in 2015, is specialized in the wholesale trade in textiles and leather. It had bought a stake in the UZTEX Group.

Today, the vertically integrated company UZTEX is one of the leading manufacturers in the textile industry of Uzbekistan, the largest exporter of textile products in the CIS. It consists of 8 large factories located throughout the country.