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Uzbekistan: HAVAS owner buys large industrial plant

Discount Retail Chain HAVAS Uzbekistan owner Strategic Development Team LLC amounted 307.6 billion soums, equivalent to US$ 27 million. The deal holds immense significance as one of the largest transactions concluded on the E-auksion platform to date. Remarkably, it surpasses the previous record set last December when Do’mbrobod City Group acquired a land plot in the same district for 266.4 billion soums. This highlights the notable history and the growing commercial importance of the E-auksion platform.

Acquisition of the Algoritm Plant and Strategic Development Team's Purchase

The Algoritm plant in Tashkent, formerly known for producing refrigerators, split-air conditioners, and washing machines under the Candy and Roison brands, played a significant role in the manufacturing sector. In May 2018, the Uzbekistan government extended a special invitation to German companies to establish an industrial zone within the premises of the Algorithm plant, reflecting a strive for international collaboration and industrial development. Subsequently, in July 2021, the decision to include the plant in the privatization program marked a pivotal shift in ownership and management. On the E-auksion trading platform, the Strategic Development Team LLC emerged as the single bidder, securing the acquisition with an offer of 307.6 billion soums, showcasing a strong interest in expanding their commercial portfolio.

Strategic Development Team LLC: Company Details and Ownership

The Strategic Development Team LLC was officially registered in July 2018 and has an authorized capital of 7 million soums. The primary focus of the company is advising on commercial activities. Notably, the sole founder of this company is Fatkhulla Sadikov. In addition to his position as the founder of Strategic Development Team LLC, Sadikov also has substantial stakes in various other companies. These include a 47.5% ownership in Adler Group Distribution, which is involved in distributing products from major brands like Mars, Wrigley, and Danone. Furthermore, Sadikov holds shares in Planet Service Plus, a company specializing in freight transportation, and possesses a significant 70.1% stake in the Havas Food grocery stores chain. The extensive range of Sadikov's business interests hints at a diversified investment portfolio with potential implications on the acquisition of the former Algoritm plant in Chilanzar.


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