Experts of Kosta Legal have successfully advised to a world-renowned British company that provides private security services on selling its Uzbek business to local purchasers, owing to sudden changes in Uzbek law prohibiting the engagement of foreign companies into security activities.
The scope of work under the project included legal due diligence on the business, preparation of transaction documents, negotiations with potential purchasers and involved state agencies. The special complexity of the matter was conditioned by rigid time constraints placed by the law for terminating security activities as well as the client’s wish to have a buy-back option in case the prohibition is overturned. Assisting the client, our lawyers have also ensured that it would retain its rights to the trade name used in Uzbekistan, with the purchaser being obliged to rename the company and to renounce associated intellectual property rights.
Our client was a British multinational security services company, having operations in more than 90 countries and employing more than 550,000 people worldwide.