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Chambers and Partners
Leading Lawyer – 2018 – 2022
Legal 500
Leading Individual – 2022, 2023
“Muborak Kambarova is a very capable professional, with knowledge around all areas of capital markets, banking, corporate and tax law”
Muborak Kambarova is a Partner at KY & Partners. She has 27 years of experience advising international clients investing in Uzbekistan, guiding them in matters of local law and business practice and assisting them in negotiations with government agencies and institutions.
Muborak advises international clients on cross-border finance, bond issuances, M&A, and regulatory matters in Uzbekistan, and is listed among the leading legal practitioners in international rankings.
Before founding K&Y Partners, Muborak was a counsel and managed operations of several international law firms’ offices in Tashkent. Previously, she worked for the Supreme Economic Court of the Republic of Uzbekistan.
1993 – 1995: University of World Economy and Diplomacy, Department of International Law, Tashkent, Uzbekistan, Bachelor degree in law with distinction.
English, Russian, Uzbek
PUBLIC FINANCIAL INSTITUTION on a number of sovereign and commercial loans aimed at the implementation of state programs in various sectors of the economy
INTERNATIONAL INVESTMENT BANK on a number of transactions in relation to financing projects of Uzbek banks and corporates
GLOBAL AVIATION COMPANY on issues related to the lease of aircraft to local airlines
MULTINATIONAL COMMODITY TRADING COMPANY in connection with pre-export financing of JSC “Almalyk Mining-Metallurgical Complex”
CHINESE MAJOR STATE-OWNED COMMERCIAL BANK on the provision of a loan to FE “Qarshi Conch Cement” LLC for the purpose of expansion and modernisation of a clinker and cement-producing plant
CITIGROUP GLOBAL MARKETS LIMITED, GPB-FINANCIAL SERVICES LTD, and J.P. MORGAN SECURITIES PLC, as the arrangers and permanent dealers, on the debut sovereign bond offering by the Republic of Uzbekistan
CITIGROUP GLOBAL MARKETS LIMITED and J.P. MORGAN SECURITIES PLC, as the Joint Global Coordinators and Joint Bookrunners on the debut corporate international bonds issued by JSCB “Uzbek Industrial and Construction Bank”, the first international bond issued among commercial banks in Uzbekistan
CITIGROUP GLOBAL MARKETS, MUFG SECURITIES EMEA plc, NATIXIS, RAIFFEISEN BANK INTERNATIONAL and Managers on debut Reg S / Rule 144a Eurobond offering by JSC “UzAuto Motors”, the first international bond issued among corporate issuers in Uzbekistan
CITIGROUP GLOBAL MARKETS, GAZPROMBANK and MUFG SECURITIES EMEA Plc as the Managers on a Reg S / Rule 144a bond offering by JSC “Uzbekneftegaz”, a state-owned holding company of Uzbekistan’s oil and gas industry
TETHYS PETROLEUM on several secondary listings and sale of shares on the Toronto Stock Exchange
JSC “EURASIAN BANK”, the ninth largest lender in Kazakhstan headquartered in Almaty, on opening a subsidiary bank in Uzbekistan
MORROW SODALI GLOBAL LLC and NESTOR ADVISORS LTD, leading providers of strategic advice and shareholder services to the Government of Uzbekistan and various corporate clients on the state privatisation reform and improvement of corporate governance
MONEYGRAM PAYMENT SYSTEMS on regulatory requirements for offering money transfer services through Uzbek banks
SCHLUMBERGER LOGELCO on Uzbek law issues in relation to the usage, transportation, and storage of explosives and radioactive materials
Acted as a counsel for numerous clients, providing advice on legal structures, licenses, permits, approvals and other requirements for doing business in Uzbekistan
INTERNATIONAL HOTEL MANAGEMENT COMPANIES (Radisson, Hyatt International, Hilton Worldwide, Marriott, Intercontinental Hotels Group) on Uzbek law issues related to entering into hotel management and franchise agreements
INTERNATIONAL PRODUCTION AND FOOD CHAIN COMPANIES on Uzbek law issues related to entering into franchise agreements, trademark licensing and sublicensing agreements, and technical services agreements
HENNESSY on the protection of Hennessy’s intellectual property rights in Uzbekistan
OTP BANK PLC, Hungary’s largest commercial bank and one of the largest independent financial service providers in Central and Eastern Europe, on privatization of the state-owned JSCMB “Ipoteka-Bank”
CONFIDENTIAL CLIENT on the acquisition of oil and gas assets in Uzbekistan, including a complex due diligence review and advising on Uzbek law matters related to the transaction’s structuring and relevant security instruments
INVESTMENT COMPANY on the acquisition of stocks in a number of local companies, including complex due diligence review, advising on the transaction’s structure, and drafting sale-purchase and shareholders agreements for the post-acquisition operation of the companies
PROPARCO, EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT and EUROPEAN INVESTMENT BANK on the provision of a loan to Tutly Solar, a subsidiary of Total Eren, to develop, construct and operate the 100 MW capacity photovoltaic (PV) plant in Samarkand province
EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT AND INTERNATIONAL FINANCE CORPORATIONon a loan facility to JSC “Indorama Kokand Fertilizers and Chemicals” and FE “Indorama Agro” LLC. JSC “Kokand Superphosphate Plant” is one of the oldest fertilizer facilities in Uzbekistan & CIS, established in 1935 and acquired by Indorama in June 2019 through a public disinvestment and privatization process. FE “Indorama Agro” LLC is one of the largest cotton farms in Uzbekistan, covering more than 50,000 hectares of land for growing cotton, wheat and other crops
ITOCHU on investments in the exploration and development of uranium deposits in Uzbekistan
SOCIETE GENERALE and, thereafter, Standard Bank and West LB, on a US$36 million project financing for Amantaytau Goldfields A.O. The deal was Project Finance Magazine’s Mining Deal of the Year for Europe in 2003
* Experience before joining KY & Partners