Minda Industries limited (MIL) said that it has prevailed in an auction process to acquire a 51% stake in automotive lighting manufacturer UZ Chasys (UzChasys) in Uzbekistan for 83.1 Bn Sams (around INR 58 crore). The Uzbekistan government as part of liberalizing the country’s economy is offloading its stake in some of the state-controlled entities. […]
Uzbekistan has been granted a $200 million policy-based loan by the Asian Development Bank (ADB) for improving its power sector under the latter’s Power Sector Reform Program. The proceeds from the loan will be used by the central Asian country to enhance the power sector’s financial sustainability and ensure adequate investment in vital infrastructure. The […]
The European Bank for Reconstruction and Development (EBRD) is making an investment in Uzbek food retail chain Korzinka by acquiring a minority stake in its parent company Anglesey Food for $40 million. Anglesey Food is owned by Anglesey Investments, a Singapore-incorporated company. The Korzinka retail network comprising 50 ‘korzinka.uz’ and ‘korzinka.uz DISKONT’-branded stores in Uzbekistan. […]