Practice area

IFLR1000 Reviews

Financial and corporate
Centil Law Firm

Centil Law Firm’s Uzbek practice is active across regulatory matters, corporate restructurings, project work and banking and finance.  

During the research period the firm’s publishable deal highlights include advising Veolia, a European utilities company, on a PPP-based contract and investment plan for the operation and development of a water supply and wastewater infrastructure in Tashkent, and providing Uzbek counsel to the Ministry of Finance of the Republic of Uzbekistan for their novel debut issuance of sovereign eurobonds.  

Fayzulla Khusankhodjaev, a corporate senior associate, left the firm to join Technical Assistance Tetratech. 

Recent deal data highlights 

•Tashkent water-supply and waste-water PPP 

•Republic of Uzbekistan $1 billion two tranche (4.75% and 5.375%) sovereign eurobond issue  


The Tashkent office of Dentons has been active in the banking and finance and capital markets areas in the research period.  

In finance work the firm advised to lenders on corporate, project, real estate and acquisition finance deals. Highlights included a bridge facility for the financing of a petrochemical plant’s modernisation.  

In capital markets work the firm advised as local counsel on the regulatory framework for a bank advising Uzbek clients on bond issues.  

Bobur Shamsiev, a partner in energy previously with Lukoil Kazakhstan, joined the firm recently.  

Recent Deal Data highlights 

•Landesbank Baden-Württemberg €400 financing  

Client feedback 

“High quality, personal access and short response time.” - Banking 

“Eldor Mannopov and Anna Snejkova provided invaluable advice and legal services. They were highly responsive, accommodating to our schedules which were often changing rapidly, and provided excellent guidance in an emerging area of development in Uzbekistan: public/private partnerships and, specifically, partnerships involving Uzbekistan government agencies.” - Project development 

“We are very impressed with the recommendations and guidance that Dentons provides to help navigate the legal and contractual portion of the project.” - Project development 

“The firm provides accurate and detailed information on time. It understands the client's needs and makes useful suggestions. Lawyers are reliable and sincere.” - Project development 

GRATA International

The Tashkent office of GRATA International has been particularly active in banking and project work in the research period. 

The firm has advised on investment agreements, term loan facilities, corporate restructuring and, in project finance, acted for a lender in a cross-border financing for a gas to liquids plant facility. 

In M&A and other corporate deals, the firm has assisted on the sell-side of share divestures in a mobile networks operator, and advised on joint ventures and a share acquisition in the oil and gas sector. 

In the projects area it has advised on tenders in power and gas projects.

Recent deal data highlights 

•Tatneft $200 million acquisition and natural gas and fuel stations projects  

•Republic of Uzbekistan $200 million acquisition of interest in Ucell 

•Uzbekistan gas-to-liquids plant 

•National Bank for Foreign Economic Activity of Uzbekistan $200 financing 


Kinstellar opened its Tashkent office in 2018 and has been active across corporate and finance in the research period.  

A firm highlight was providing legal counsel to global coordinators, joint lead managers and bookrunners on the debut issue of sovereign eurobonds by the Republic of Uzbekistan. Other confidential work included term financing, due diligence and credit facility agreements. 

Recent deal data highlights 

•Republic of Uzbekistan $1 billion two tranche (4.75% and 5.375%) sovereign eurobond issue  

Kosta Legal

During the research period Kosta Legal provided mainly local counsel roles to clients.  

In finance work the firm advised a financier, as local counsel, in the syndicated financing for the construction of Tashkent Metallurgic Factory in Uzbekistan and the financing of a private pharmaceutical product producer.  

Its corporate advice included advising on a joint venture and assisting a client in the sale of shares in its subsidiary. 

Client feedback  

“The lawyers and partners are responsive, diligent, responsible and able to meet deadlines. They provide sound legal advice and further clarifications and assisting in communication with the local state authorities and third parties.” – Project development 

“We are totally happy with the quality of services and dedication that the firm shows. They are always responsive, ready to go the extra mile and appreciate our business needs in any aspect of their work.” – Project development