GRATA International advices Coca-Cola Içecek Anonim Şirketi (CCI) in one of the largest privatizations in Uzbekistan
GRATA International has advised Coca-Cola Içecek Anonim Şirketi (CCI), the Coca-Cola bottler for Turkey, Central Asia, Pakistan and the Middle East, in its successful bid for acquisition of 57.118% state shares in Coca-Cola Bottlers Uzbekistan, Ltd (CCBU).
The tender process for the privatization of CCBU started last year following the Presidential Decree dated October 27, 2020. CCI reached an agreement with the State Assets Management Agency of Uzbekistan following its successful bid (in the amount of 252,28 million US dollars) in the highly competitive multi-stage privatization process.
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News and insights from GRATA International
M&A - due diligence from an employment law perspective
Issues that are identified during an employment due diligence can have a crucial impact on the business transaction as during M&A the buyer also acquires the human capital of the target company. Human capital is considered an intangible asset of the company. Besides that, the employment issues and disputes can be extremely costly. As such, prior to M&A, the employment lawyer should assess the potential administrative and criminal risks that might lay on the target company. It is, therefore, essential for the buyer to review all employment-related files and documents.
Offshore duty in Belarus: from calculation to payment
Conducting business with companies from offshore zones provides for additional obligations for Belarusian counterparties and requires certain control.
The list of such zones was approved by the Edict of the President of Belarus No. 353 of 25.05.2006.
For example, the British Virgin Islands, Montserrat, the Republic of Maldives, the Principality of Andorra, the Principality of Liechtenstein, the Republic of Montenegro and others are recognized as offshore companies. However, for example, Cyprus and the Netherlands are not recognized as thereof.
Kazakh Approach to the Taxation of Foreign Companies Engaged in E-Commerce and E-Services
In January 2022, Kazakhstan introduces the obligation on the VAT payment by foreign companies that are engaged in e-commerce with goods or provide e-services to individuals. The Law, dated 10 December 2020, No. 382-VI supplemented the Code of the Republic of Kazakhstan ‘On Taxes and Other Obligatory Payments to the Budget’ (hereinafter - the ‘Tax Code’)’ with a new ‘Section 25. Features of Taxation of Foreign Companies When Engaging in E-Commerce with Goods, Providing E-Services to Individuals’.
Mining Mongolia 2021
Mongolia is an attractive environment for medium and long-term foreign direct investment (FDI) due to its vast natural resources, vast agricultural potential, and geographical proximity to major Asian markets. Mongolia's gross domestic product (GDP) is 9.2 trillion MNT or 3.2 billion USD as of the 1st (first) quarter of 2021. Mongolia's GDP averaged $ 4.44 billion from 1981 until 2018, reached the highest record of $ 13.01 billion in 2018.
If in order to "judge the pudding, you have to try it" as they say in the well-known English proverb, then for justice in various cases (criminal, civil, economic, etc.), the main test is the implementation of its final products - court decisions, court orders and other legal acts subject to execution (hereinafter - judicial acts), which establish certain rights and obligations.
The key to effective legal protection is achieving the desired results.
International Arbitration 2021
Arbitration is becoming more and more popular in Uzbekistan as an alternative to litigation. With the adoption of the Arbitration Law in 2006, the number of arbitration tribunals established in Uzbekistan reached nearly 300 in 2021. One of the most active is a network of arbitration courts under Chamber of Commerce and Industry of Uzbekistan (CCI).
The CCI confirms that more than 20,000 cases were heard by all CCI arbitration courts across Uzbekistan in 2019–21.