British BAT bought 12.7% of Samarkand Samfruit

According to the stock exchange data, British American Tobacco (BAT) bought 12.7% of the Samarkand company Samfruit.

The JV trade was closed on November 19. BAT bought 4.5 million shares and now owns 11.3 million. Taking into account the company’s share, it now owns 32% of Samfruit. The company has been one of the founders since last year.

Last year, UzBAT JV invested $ 11 million in Samfruit. This was the first tranche to expand production. Funding was directed to the purchase of modern high-tech equipment for freeze-drying and air drying, packaging and packaging, for the production of export-oriented products.

As noted during the signing by the BAT leadership, upon completion of the first stage of the investment program, the projected export revenue of IE Samfruit will increase several times. It was planned that due to the expansion of production capacity through investment, production will be increased from 700 to 4,000 tons of dried fruits, vegetables and herbs per year.

This is the first investment project of the BAT group in the CIS, not related to the production and sale of tobacco and nicotine-containing products.

JV “UZBAT” was established in 1994. In 1997, the company built the Samarkand cigarette factory. British American Tobacco’s investments in the Uzbek economy exceeded $ 400 million.

Based on materials: https://www.spot.uz/