In July 2017, Kosta Legal successfully carried out full legal due diligence on a major state-owned enterprise that owned and managed a number of large hotels and commercial real estate objects in Tashkent. The enterprise considered a possibility of selling its shares to a foreign investor under the state privatisation programme.
Our due diligence investigation was focused on the check of company’s ownership and disposal rights as well as interests and burdens with respect to assets it managed, primarily, major real estate assets and relevant land plots. Many of these assets were transferred to the company by other state-owned enterprises and state agencies. Due formation of the company’s charter capital had also to be checked along with the company’s relationship with the state as the company’s sole shareholder. Extensive work was done to go through company’s documents and a detailed due diligence report on the most concerning legal issues was produced at the end.
Our client in this case was the state-owned real estate managing company itself with state agencies responsible for managing state property being occasionally involved.