The committee said Aysel Insaat Taahut ve Ticaret A.S.»,, its branch in Uzbekistan Aysel Insaat Taahut ve Ticaret A.S and directions on coordination of hotels activities of Tashkent administration founded a joint venture Aysel Invest CJSC.

The enterprise was created to carry out hotel constructions and tourism complexes in Uzbekistan. In connection with reorganization of Aysel Insaat Taahut ve Ticaret A.S with its merger to Yuksel Insaat A.S., shares of Aysel Insaat Taahut ve Ticaret A.S. in Aysel Invest CJSC JV were transferred to Yuksel Insaat A.S.

Yuksel Insaat A.S. requested the Committee to receive permission to purchase of shares in Aysel Invest CJSC and received permission.

In the result merger of two, the branch of Aysel Insaat Taahut ve Ticaret A.S.» also moved to ownership of Aysel Invest CJSC JV. The branch and Yuksel Insaat A.S. became owners of Aysel Invest with the share of 98.99%.

However, Yuksel Insaat A.S. did not received permission of the State Demonopolization Committee to own Aysel Invest in cooperation with the branch of Aysel Insaat Taahut ve Ticaret A.S. This violates article 15 of the law “On competition and limitation of monopoly activities in goods markets”.

The committee allowed the sides to keep their shares in Aysel Invest and ordered to avoid future violations of antimonopoly laws. It also fined for 70 minimal salary.