Kinstellar has advised Raiffeisen Bank International (RBI), one of Austria's leading corporate and investment banks, on a significant Uzbekistan capital markets and regulatory infrastructure mandate. The matter involved advising RBI on Uzbekistan’s securities-market framework, the legal regime applicable to foreign custodians and intermediaries, the country’s Regulatory Sandbox regime, and the broader legal, political, and economic considerations relevant to RBI’s assessment of Uzbekistan as a market for expanded institutional activity. Kinstellar then assisted RBI with its registration as a participant in Uzbekistan’s Regulatory Sandbox regime and advised on the legal and regulatory framework enabling foreign
Kinstellar has acted as a local legal adviser for Vision Invest on a landmark public-private partnership project for the development of an 800-bed multidisciplinary hospital in the Fergana region of Uzbekistan. The project represents a major milestone for Uzbekistan’s healthcare sector and is expected to become the largest healthcare facility in Central Asia delivered under a PPP model. The PPP agreement was signed among the Ministry of Health of Uzbekistan, Vision International Investment Company and KOC Construction Mekanik Elektrik in the presence of representatives of the Government of Uzbekistan and international development partners. With an estimated value of approximately USD 300 million, the project involves
Kinstellar has recently advised ADM Global on its landmark strategic partnership with Japan’s Sojitz Corporation in Uzbekistan’s automotive industry. Under the transaction, Sojitz acquired a stake in ADM’s automotive distribution business and committed USD 100 million in additional investment. The partnership will enhance ADM Global’s operational capacity and contribute to the modernization of Uzbekistan’s automotive sector, bringing in advanced expertise, new technologies and expanded international cooperation. Kinstellar provided full legal support for the establishment of the joint venture – including preparing and negotiating the share purchase agreement, shareholders agreement, charter and founding
Kinstellar is delighted to announce that Dilshad Khabibullaev has joined our Tashkent office as a Partner. With over two decades of experience in infrastructure, investment, and public-private partnership (PPP) projects—particularly in the transportation sector—Dilshad brings a wealth of knowledge and leadership to our team in Uzbekistan and the broader Central Asia region. Throughout his notable career, Dilshad has played a key role in pioneering transport infrastructure projects in Uzbekistan, including the country’s first airport PPP, first toll road PPP, and first traffic video surveillance investment project. His expertise spans both the automotive and aviation industries, where he has consistently delivered