Merger, purchase market’s volume exceeds US$161m in Uzbekistan in Jan-Sep
03/11/2009 13:57
Merger, purchase market’s volume exceeds US$161m in Uzbekistan in Jan-Sep
03/11/2009 13:57
Tashkent, Uzbekistan (UzDaily.com) -- About 30 deals on merger and purchase worth US$161.2 million were concluded in Uzbekistan in January-September 2009, Uzbek investment company said its new report.
Avesta Invesment Group said the volume of merger and purchase market fell by 4.9 times year-on-year. The company said about 24 deals for US$784.6 million recorded in the same period of 2008.
Purchase of Andijan-based Bobur complex by Turkish Mimatas Tekstil Sanayi ve Ticaret AS for US$11.4 million was the largest deal in the reporting period. The Turkish firm bought the enterprise to build textile manufacturing company. The Turkish company intends to invest US$75 million in reconstruction and expansion of the company within 2009-2012.
Reconstruction and Development Fund of Uzbekistan acquired shares of additional emission of Asaka Bank for 50 billion soums (16.67% in the authorized capital) and Galla Bank for 10.5 billion soums (42.8%).
During the third quarter, the Uzbek-Swiss Zeromax GmbH sold 64% of Uzkabel OJSC to Adel Al Hussain General Trading (the United Arab Emirates) for US$15.4 million through Uzbekistan Stock Exchange. The UAE firm hold 14.7% share in the company and now it brings its state to 78.7%.
Canadian Tethyda Limited has signed the agreement with British Rosehill Energy to acquire its share in the oil field of Northern Urtabulak. The deal was valued at 15 million ordinary shares of Tethys or US$6.5 million.
Avesta Invesment Group said 26 of 30 deals have been conducted through Uzbekistan Stock Exchange in the reporting period.
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