As for the Borjomi company
Posted: Mon Jan 06, 2025 4:11 am
Before Russia's war in Ukraine, its controlling stake was owned by the Alfa Group, a group of sanctioned oligarchs Mikhail Fridman and Petr Aven. The company's operations were hampered by sanctions, and in order to save the brand, the Georgian government purchased a 7.73% stake in the group's shares.
The British Virgin Islands, which ranks tenth among the largest investing countries, are also considered offshore investments.
According to IDFI, Panama has been among the largest investor Singapore business fax list countries for years - the reason for this was Bidzina Ivanishvili's registration of part of his businesses in Panama. After Ivanishvili transferred assets to the Cartu Fund, investments from Panama decreased and, for example, if in 2019 they reached almost $80 million, in 2022 they decreased to $5.3 million, and in the first 9 months of this year only $77,300 was received from Panama.
Companies with the most investments in the first 9 months of 2024
(Companies are not ranked; information about the investor company and country is provided by Geostat; information about the ultimate owner is from the companies' financial statements)
Borjomi
Investor country: Netherlands
Investor Company: IDEAS Borjomi Beverages Company
Ultimate owner: LLC IDS BORJOMI BEVERAGES CO.NV - Netherlands Antilles.
Tbilisi Energy
Investor Country: Marshall Islands
Investor company: “Walletbay”
Ultimate owner: The company is 100% owned by LLC “Voltbay”, 50% of whose shares are owned by Georgian citizen Khvicha Makatsaria. The other 50% of the shares are owned by the company Weco investment and Finance SA, which is registered in the British Virgin Islands. “Weco Investment and Finance SA” is 100% owned by LLC “HARRIMAN HOLDINGS”, which is also registered in the British Virgin Islands. The beneficial owner of this company is Nasib Hasanov, a citizen of Azerbaijan.
JSC Energo Pro Georgia
Investor country: Czech Republic
Investor company: “ENERGO-PRO A.S.”
Ultimate owner: 100% of the company's shares are owned by "DK Holding Investments sro". The latter is 100% owned by Jaromir Tesar, who is also the ultimate controlling person of the company.
Georgian Cement Ltd. (formerly HeidelbergCement Georgia Ltd.)
Investor country: Netherlands
Investor company: kaukasuscement holding BV
Ultimate owner: CaucasusCement Holding BV - the largest shareholder of the company is “Cement Invest”, which represents the interests of Bidzina Ivanishvili's “Co-Investment Fund”, Irakli Rukhadze's “Honeywell Partners” and the family of businessman Davit Bezhuashvili.
Toyota Caucasus
Investor country: Japan
Investor company: “Toyota Tsusho Corporation”
Ultimate owner: Toyota Tsusho Corporation (100%)
Adjara Textile LLC
Investor Country: Turkey
Investor company: “S.S. Abay Uluslararasi Textile Tourism and Tourism Enterprise”
Ultimate owner: The company is 100% owned by JSC “Abay Uluslararasi Tekstil Turizm ve Yatirim Ticaret”, whose shareholders are: Cemal Bilgin Gulluoglu – 50%; Kemal Bilgin Gulluoglu – 50%.
JSC BGEO Group
Investor Country: United Kingdom
Investor company: Bank of Georgi Group PLC
Ultimate owner: Bank of Georgia Group plc.
JSC EP Georgia Generation
Investor country: Czech Republic
Investor company: “ENERGO-PRO A.S.”
Ultimate owner: 100% of the company's shares are owned by "DK Holding Investments sro". The latter is 100% owned by Jaromir Tesar, who is also the ultimate controlling person of the company.
SOCAR Midstream Operations LLC - Georgia Branch
Investor country: Azerbaijan
Investor company: “SOCAR Midstream Operations”
Ultimate owner: SOCAR Midstream Operations LLC, Azerbaijan.
Magti
Investor Country: USA
Investor Company: “International Telcel Cellular/Telcel Wireless Company”
Ultimate Owner: The owners of Magticom LLC are International Telcell Cellular, LLC, a company registered in the United States of America, which owns 51% of the company, and Telcell Wireless,
The British Virgin Islands, which ranks tenth among the largest investing countries, are also considered offshore investments.
According to IDFI, Panama has been among the largest investor Singapore business fax list countries for years - the reason for this was Bidzina Ivanishvili's registration of part of his businesses in Panama. After Ivanishvili transferred assets to the Cartu Fund, investments from Panama decreased and, for example, if in 2019 they reached almost $80 million, in 2022 they decreased to $5.3 million, and in the first 9 months of this year only $77,300 was received from Panama.
Companies with the most investments in the first 9 months of 2024
(Companies are not ranked; information about the investor company and country is provided by Geostat; information about the ultimate owner is from the companies' financial statements)
Borjomi
Investor country: Netherlands
Investor Company: IDEAS Borjomi Beverages Company
Ultimate owner: LLC IDS BORJOMI BEVERAGES CO.NV - Netherlands Antilles.
Tbilisi Energy
Investor Country: Marshall Islands
Investor company: “Walletbay”
Ultimate owner: The company is 100% owned by LLC “Voltbay”, 50% of whose shares are owned by Georgian citizen Khvicha Makatsaria. The other 50% of the shares are owned by the company Weco investment and Finance SA, which is registered in the British Virgin Islands. “Weco Investment and Finance SA” is 100% owned by LLC “HARRIMAN HOLDINGS”, which is also registered in the British Virgin Islands. The beneficial owner of this company is Nasib Hasanov, a citizen of Azerbaijan.
JSC Energo Pro Georgia
Investor country: Czech Republic
Investor company: “ENERGO-PRO A.S.”
Ultimate owner: 100% of the company's shares are owned by "DK Holding Investments sro". The latter is 100% owned by Jaromir Tesar, who is also the ultimate controlling person of the company.
Georgian Cement Ltd. (formerly HeidelbergCement Georgia Ltd.)
Investor country: Netherlands
Investor company: kaukasuscement holding BV
Ultimate owner: CaucasusCement Holding BV - the largest shareholder of the company is “Cement Invest”, which represents the interests of Bidzina Ivanishvili's “Co-Investment Fund”, Irakli Rukhadze's “Honeywell Partners” and the family of businessman Davit Bezhuashvili.
Toyota Caucasus
Investor country: Japan
Investor company: “Toyota Tsusho Corporation”
Ultimate owner: Toyota Tsusho Corporation (100%)
Adjara Textile LLC
Investor Country: Turkey
Investor company: “S.S. Abay Uluslararasi Textile Tourism and Tourism Enterprise”
Ultimate owner: The company is 100% owned by JSC “Abay Uluslararasi Tekstil Turizm ve Yatirim Ticaret”, whose shareholders are: Cemal Bilgin Gulluoglu – 50%; Kemal Bilgin Gulluoglu – 50%.
JSC BGEO Group
Investor Country: United Kingdom
Investor company: Bank of Georgi Group PLC
Ultimate owner: Bank of Georgia Group plc.
JSC EP Georgia Generation
Investor country: Czech Republic
Investor company: “ENERGO-PRO A.S.”
Ultimate owner: 100% of the company's shares are owned by "DK Holding Investments sro". The latter is 100% owned by Jaromir Tesar, who is also the ultimate controlling person of the company.
SOCAR Midstream Operations LLC - Georgia Branch
Investor country: Azerbaijan
Investor company: “SOCAR Midstream Operations”
Ultimate owner: SOCAR Midstream Operations LLC, Azerbaijan.
Magti
Investor Country: USA
Investor Company: “International Telcel Cellular/Telcel Wireless Company”
Ultimate Owner: The owners of Magticom LLC are International Telcell Cellular, LLC, a company registered in the United States of America, which owns 51% of the company, and Telcell Wireless,