Orient Group Management was fined
Uzbekistan
Under Uzbekistan’s Competition Law, economic concentration deals must receive prior approval from the anti-monopoly authority. Failure to comply with this requirement can result in severe financial penalties.
On May 16 of this year, “Orient Group Management” LLC acquired a 45% stake in the authorized capital of “Highway Logistics Center” LLC without obtaining prior approval from the anti-monopoly authority. As a result, an investigation was initiated by the Anti-Monopoly Committee’s Special Commission.
Following the investigation, “Orient Group Management” LLC was found to have violated the requirements of Article 26 of the Competition Law, and the company was subjected to a financial penalty. The company has since filed a lawsuit against this decision.
Additionally, on July 23, a similar violation was detected involving the Uzbek-Omani Investment Company LLC, which also acquired a 45% stake in “Highway Logistics Center” LLC without prior approval from the anti-monopoly authority.
The Anti-Monopoly Committee’s Special Commission also investigated this case. As a result, the Uzbek-Omani Investment Company LLC was found to have violated the Competition Law and was fined.
Following the investigation, “Orient Group Management” LLC was found to have violated the requirements of Article 26 of the Competition Law, and the company was subjected to a financial penalty. The company has since filed a lawsuit against this decision.
Additionally, on July 23, a similar violation was detected involving the Uzbek-Omani Investment Company LLC, which also acquired a 45% stake in “Highway Logistics Center” LLC without prior approval from the anti-monopoly authority.
The Anti-Monopoly Committee’s Special Commission also investigated this case. As a result, the Uzbek-Omani Investment Company LLC was found to have violated the Competition Law and was fined.
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