The Uzbekistan Competition Development Committee has approved an economic concentration deal involving the acquisition of Zarofattex LLC by Uztex Group LLC.
The Uzbekistan Competition Development Committee has approved an economic concentration deal involving the acquisition of Zarofattex LLC by Uztex Group LLC.
According to this body's data, the application for consent for this transaction was reviewed in accordance with established regulations. Uztex Group is engaged in the production of knitted clothing, while Zarofattex specializes in manufacturing finished textile products.
Following the analysis conducted by the Committee's Special Commission, it was determined that the implementation of this transaction will not negatively affect the competitive environment in the relevant commodity market. Consequently, the Committee decided to grant approval for the economic concentration.
According to the Unified State Register of Enterprises and Organizations (USREO), the charter capital of Uztex Group is 300.56 billion soums. The main founder is South Korean citizen Kim Jong, who holds a stake of 89.9983%. Timur Ganiev holds 10% of the shares, and the remaining 0.0017% belongs to Elena Kan.
Zarofattex LLC, founded in 2022, produces cotton yarn and has a charter capital of 1 million soums. The sole founder of Zarofattex is Sherzod Khudayberdiev, and the company's manager is Rashid Karimov.
Both organizations are registered in the city of Chirchik, Tashkent region. Notably, according to open data sources, the registration address of Zarofattex also coincides with the address of Uztex Group.
Uzmetkombinat, an Uzbek company, and the global financial institution Citi have signed a Memorandum of Understanding (MoU) to expand their joint work in the international debt capital market, as reported by the Uzbek firm itself.
The document was signed following a meeting held in New York on July 24. Participants in this meeting included Uzmetkombinat Chairman and CEO Bahodir Abdullaev, Deputy Chairman for Finance, Economy, and Transformation Hasan Haidarov, as well as representatives from Citi.
The parties discussed opportunities to attract financing in international capital markets, diversify funding sources, and explore the potential for issuing international debt instruments. According to the terms of the memorandum, the partners will consider applying Citi's investment banking expertise, including the possible participation of Citi as a coordinator and bookrunner for future international debt placements.
Uzmetkombinat emphasized that this agreement is a significant step in expanding the company's presence in global financial arenas and strengthening its capabilities to secure financing for strategic investment projects.
