Uzbekistan Airways (HY, Tashkent International) has gained UZS400.34 million soums (USD37,000) by selling its 23.3% stake in Central Asia Megastar to Uzbekistan Airports, according to the country’s Unified Portal of Corporate Information.

The companies finalised the deal by signing a sale and purchase agreement for the Tashkent International-based duty-free retailer on July 29. By August 2, Uzbekistan Airports had added the company to its list of affiliates.

Central Asia Megastar was established in April 1991 and has an authorised capital of UZS1.71 billion (USD157,000). Its other owners are the Uzbek retail firm Premium Globe Investment (51.1%) and the state of Uzbekistan (25.6%).

It runs Duty Free shops at Tashkent (seven shops and two bars), Bukhara, Samarkand, and Urgench airports as well as at the Termez border post with Afghanistan and a store in Tashkent only for diplomats and individuals accredited to the Ministry of Foreign Affairs.

Uzbekistan Airports has recently been investing in overhauling the country’s airports before launching tenders for commercial activities.