Competition Committee Approves Merger of Zarofattex into Uztex Group
The Competition Development Committee of Uzbekistan has approved the economic concentration transaction involving the merger of Zarofattex LLC into Uztex Group LLC.
Uzbekistan's Competition Development Committee has given its consent to an economic concentration deal that will see Zarofattex LLC merge into Uztex Group LLC.
The regulatory body stated that the request for approval of the transaction was processed according to standard protocols. Uztex Group is involved in the production of knitted clothing, whereas Zarofattex focuses on manufacturing finished textile goods.
Following an assessment by the Committee's Special Commission, it was concluded that the transaction would not adversely affect competition within the relevant product market. As a result, the Committee sanctioned the economic concentration.
Data from the Unified State Register of Enterprises and Organizations (USREO) indicates that Uztex Group possesses a charter capital of 300.56 billion soums. The main founder, Kim Jong, a South Korean national, holds an 89.9983% share. Timur Ganiev owns 10%, and Elena Kan holds the remaining 0.0017%.
Zarofattex LLC, founded in 2022, specializes in cotton yarn production and has a charter capital of 1 million soums. Sherzod Khudayberdiyev is listed as the sole founder, with Rashid Karimov serving as the company's director.
Both companies are registered in Chirchik, Tashkent region. Publicly available information also shows that Zarofattex's registered address is shared with Uztex Group.