Results of 2020 in terms of economic concentration

During 2020, the Antimonopoly Committee and its territorial departments received 153 applications for obtaining preliminary consent on transactions for the merger, merger of economic entities and the acquisition of shares (stocks) in the authorized capital (fund) of economic entities. Of these, 37 related to mergers and acquisitions of economic entities, 116 – to the acquisition of shares (stakes). 35 of these appeals belong to foreign investors.

At the same time, in respect of 5 economic entities, cases were initiated on violation of the requirements of the Law “On Competition” in terms of conducting transactions on mergers and acquisitions of shares (stakes) of economic entities without obtaining the prior consent of the antimonopoly authority.

All applications received in 2020 were studied in detail, after which the Committee approved transactions for 3,303 billion soums, 59% of which (1,957 billion soums) accounted for by foreign investors.

Investors are expected to invest mainly in textiles, pharmaceuticals, information technology, electrical engineering, construction, agriculture, food processing and other industries in the form of direct funds and modern technologies.

As an example of transactions approved by the Antimonopoly Committee in 2020:

On the part of Société des Produits Nestlé S.A. (Switzerland) acquired 99.99% of the share in the established fund of LLC PE “NESTLE FOOD” (the main activity of LLC PE “NESTLE FOOD” is wholesale trade in food products).

Acquisitions by LUKOIL INTERNATIONAL GmbH (Austria) of a 51% stake in the authorized capital of LUKOIL Uznefteprodukt LLC (the scope of activity of LUKOIL Uznefteprodukt LLC is retail trade in motor fuel).

Merger of KIZILQUM FOSFORIT KOMPLEKSI LLC to OLMALIQ KON-METALLURGIYA KOMBINATI JSC (type of activity of OLMALIQ KON-METALLURGIYA KOMBINATI JSC – non-ferrous metal ore mining).

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