June 22, 2020 / 12:40 PM / 21 days ago

Uzbekistan to sell stake in Coca-Cola JV

TASHKENT (Reuters) - The government of Uzbekistan will sell a stake in its joint venture with Coca-Cola (COKE.O) through open bidding, it said on Monday, and plans to hire foreign investment banks to arrange the deal.

Uzbekistan holds a 57.1% stake in the company which is one of the biggest players in the soft drinks market of the Central Asian nation of 34 million.

Uzbekistan’s State Asset Management Agency which announced the sale plans in a brief statement provided no other details of the potential deal.

Reporting by Mukhammadsharif Mamatkulov; Writing by Olzhas Auyezov; Editing by Louise Heavens

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