EBRD buys stake in Uzbek Korzinka.uz

EBRD buys stake in Uzbek Korzinka.uz

The European Bank for Reconstruction and Development (EBRD) announced the acquisition of a minority stake in Singapore-based Anglesey Investments, which owns Anglesey Food. This company operates a supermarket chain korzinka.uz in Uzbekistan. The amount of the share is not yet declared.

In November Korzinka.uz announced about direct investments by the EBRD in the amount up to $40 million. Due to the funds, the number of stores in the network set to increase almost three-fold (from the current 50 to 140) by 2023, and the number of staff will double from 5,000 to about 10,000 employees.

“Consumers in Uzbekistan will have the opportunity to choose from a larger range of products, thanks to the expansion of the leading food chain of supermarkets in the country, operating under the Korzinka brand, which is supported by the EBRD,” the Bank said.

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