First Premium Alliance acquires 99.7% of state block of shares in the authorized capital of Kokand Biochemical for 277 billion soums, the State Assets Management Agency of Uzbekistan said.

Tashkent, Uzbekistan (UzDaily.com) -- First Premium Alliance acquires 99.7% of the state block of shares in the authorized capital of Kokand Biochemical for 277 billion soums, the State Assets Management Agency of Uzbekistan said.

The results of the privatization of the Company was approved by the relevant decision of the State Commission for conducting tenders for the sale of state property, the agency added.

The State Assets Management Agency announced the tender for privatization of the enterprise. Four applications were received. First Premium Alliance won the tender.

One of the priority measures planned by the Buyer after the completion of the Deal is the introduction of digital labeling in the production of alcohol and alcoholic beverages, which will allow to trace the entire supply chain to the end consumer and increase business efficiency. 

First Premium Alliance LLC is a company specializing in the wholesale and retail sale of alcoholic beverages. The Company has implemented the international food safety standard ISO 22000:2005. Presence of a large alcohol production facility in Tashkent, as well as availability of large distribution networks of the Company in the country and CIS countries, provides an opportunity for further development of business operations of Kokand Biochemical JSC and create additional infrastructure. Currently, the Company cooperates with such large retail chains as Legion, Lavini and Duty Free International Airport.