Jakhongir Azatov is a Managing Associate in the Tashkent office. His practice focuses on corporate and M&A, capital markets, and banking and finance.

Jakhongir advises both local and international clients on acquisitions, restructurings, and day-to-day corporate matters. He has played a key role in conducting comprehensive legal due diligence for a wide range of share and asset transactions.

He has extensive experience in energy law, with a particular emphasis on renewable energy projects. In this capacity, Jakhongir regularly advises sponsors on the drafting and negotiation of core project documentation, including investment agreements, power purchase agreements, O&M agreements, land lease agreements, and related project implementation documents.

In addition, Jakhongir has significant experience advising on complex project finance transactions, including the use of various project development instruments and Islamic finance structures such as Murabaha and Ijarah. His expertise also extends to capital markets instruments and securities, including sovereign and corporate bonds, derivatives, as well as regulatory issues in the banking and financial sectors.

RECENT ENGAGEMENTS INCLUDE ADVISING

M&A and Corporate

• OTP BANK (Hungary) on all matters relating to the acquisition of a majority stake in the state-owned IPOTEKA bank, including on regulatory matters (approval from the Central Bank of Uzbekistan; antimonopoly matters; mandatory purchase of minority shareholders’ shares), transactional and corporate governance matters and etc.
• JSC HALYK BANK on a landmark strategic partnership with Click, one of Uzbekistan's leading fintech platforms
• ACWA POWER COMPANY on the sale of equity stake in Uzbekistan's largest solar power and energy storage projects to Sumitomo Corporation, including regulatory, transactional, corporate governance advice
• ORANO on divestment of a non-controlling stake in a joint venture operating in mining industry created with a state-owned enterprise as well as renegotiation of contractual arrangements with the Government, including transactional scope, review of permits and authorisations, corporate governance, antimonopoly and regulatory advice
• AN INVESTMENT FUND on the acquisition of a 100% stake in an LLC owning a hotel in Uzbekistan operated by a major international hotel chain, including drafting and negotiating transaction documents, undertaking due diligence review, advising on corporate governance, privatisation law, and regulatory matters

Banking, Finance & Capital Markets 

• JOINT LEAD MANAGERS on all Uzbek matters arising in connection to UZS-denominated Eurobonds, the first green sovereign bonds issued in the CIS region, as well as the tender offer extended by the Republic of Uzbekistan
• LENDERS on the project financing of a battery storage facility in Uzbekistan, including due diligence and bankability review on the project documentation such as battery storage service agreement, investment agreement, land lease agreement, EPC contracts and O&M agreement, advising on finance documents and matters arising as a matter of Uzbek law and drafting and negotiation of the security documents (on-going project)
• ACWA POWER COMPANY (as sponsor) on project development and financing of a pilot Green Hydrogen project in Uzbekistan (encompassing a wind farm project), including on all project documents, governmental authorisations, regulatory matters, as well as financing and other matters arising as a matter of Uzbek law

EDUCATION

2020: University of World Economy and Diplomacy, Tashkent, Uzbekistan, LL.B. in International Law

LANGUAGES

Russian, Uzbek, English