Uzbekistan sells 57% of Coca Cola JV for $15 mln

Interfax November 5 Uzbekistan's state property committee has sold its 57% stock interest in the joint venture Coca-Cola Bottlers Uzbekistan, Ltd. for roughly $15 million to the joint venture Muzimpex, controlled by Zeromax of the United States, a committee source told Interfax. The starting price for the 57% stake had been set at $14 million. Coca-Cola Bottlers Uzbekistan, Ltd. was set up in 1993 by Coca-Cola Export Corp. (42% stake) and Uzbekistan's state association Uzpishcheprom (57%). Small investors hold the remaining shares.