Competition Committee Approves Merger of Zarofattex into Uztex Group

Tashkent, Uzbekistan (UzDaily.uz) — The Competition Development Committee of Uzbekistan has approved an economic concentration transaction providing for the merger of Zarofattex LLC into Uztex Group LLC.

According to the authority, the application seeking consent for the transaction was reviewed in accordance with established procedures. Uztex Group operates in the field of knitted apparel manufacturing, while Zarofattex specializes in the production of finished textile products.

Based on the analysis conducted by the Committee's Special Commission, it was determined that the execution of the transaction will not have a negative impact on the competitive environment in the relevant product market. Consequently, the Committee decided to grant approval for the economic concentration.

According to data from the Unified State Register of Enterprises and Organizations (USREO), the charter capital of Uztex Group stands at 300.56 billion soums. The primary founder with an 89.9983% stake is South Korean citizen Kim Jong. Timur Ganiev holds 10%, while the remaining 0.0017% belongs to Elena Kan.

Zarofattex LLC, established in 2022, manufactures cotton yarn and has a charter capital of 1 million soums. Sherzod Khudayberdiyev is listed as the sole founder, with Rashid Karimov serving as the head of the company.

Both entities are registered in the city of Chirchik, Tashkent region. Notably, the registration address listed for Zarofattex also belongs to Uztex Group, according to open data sources.