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Kinstellar reinforces its capabilities in Uzbekistan with the appointment of Kamilla Khamraeva as Counsel

February 2024 – Kinstellar is delighted to announce that Kamilla Khamraeva has joined the firm’s Tashkent office as Counsel. Kamilla focuses on Banking & Finance and the Energy and Infrastructure sectors.

Uzbekistan introduces a new legal framework to govern competition within commodity and financial markets

October 2023 – On 3 July 2023, the President of Uzbekistan signed the Law No. ЗРУ- 850 “[o]n competition” (the “New Law”), which comes into force on 4 October 2023, replacing the law on competition No. ЗРУ-319 dated 6 January 2012 (the...

Kinstellar assists OTP Bank with completing its first acquisition in Central Asia

June 2023 – As previously announced, in December 2022 Kinstellar advised OTP Bank, Hungary’s largest commercial bank and one of the largest independent financial service providers in Central and Eastern Europe, on the successful acquisition of Uzbekistan’s...

Uzbekistan introduces amendments to banks’ capitalisation requirements and liberalises access to their ownership by non-residents

May 2023 – On 19 April 2023, the President of Uzbekistan signed law No. ЗРУ-831, which came into force on 20 April 2023 and introduced changes to the law “[o]n banks and banking activities” (the “Amended Banking Law”). 

Kinstellar advises on an IFI-financed pharma sector acquisition in Uzbekistan

April 2023 – Kinstellar is delighted to announce that it has advised a holding company of a leading Ukrainian pharmaceutical company, YURiA PHARM, on the two-stage acquisition of a pharmaceutical company in Uzbekistan.

Kinstellar advises Silk Road Fund on the acquisition of a 49% stake in the Sirdarya CCGT power plant in Uzbekistan

February 2023 – Kinstellar is delighted to announce that it has successfully advised Silk Road Fund, a development and investment fund established under the framework of the Belt and Road Initiative, on the acquisition of a 49% stake in the 1.5 GW Sirdarya...

Uzbekistan liberalizes regulatory framework for mining of crypto-assets

May 2022 – On 27 April 2022, the President of Uzbekistan signed decree No. UP-121 (the “Decree”), which (i) reorganized the National Agency for Project Management into the National Agency of Perspective Projects (the “Agency”) and authorizing...

Data Privacy Concerns in the Metaverse. May the privacy be with us!

April 2022 – All of us have concerns regarding data privacy in the metaverse. Countless questions come to mind, such as: What is the metaverse? Can a digital personality be considered as personal data? What happens if digital data is processed? In this...

Uzbekistan reinforces legal framework for privatization of land

January 2022 – On 15 November 2021, the President of Uzbekistan signed the law No.ЗРУ-728 “[on] privatization of non-agricultural land plots”, which entered into force on 16 November 2021 (the “Law”) and which abolished the earlier adopted...

Kinstellar advises the joint-lead managers on the USD 700 million debut Eurobond of Uzbekneftegaz

November 2021 – Kinstellar is pleased to announce that our team in Taskent has advised the joint-lead managers—Bank GPB, Citi, J.P. Morgan and MUFG—on the debut USD-denominated Eurobond, with a tenor of seven years, of the Uzbek state-owned oil...