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Monday, 24 October 2016


Sale of "Borjomi": Benefit or harm?

2013-01-29 11:40

Sale of "Borjomi": Benefit or harm?. 28984.jpeg

Russian company "Alfa Group" has acquired a majority stake of "Borjomi". The cost of the deal - $ 300 million. The decision to sell was made by the family of the late Georgian businessman Badri Patarkatsishvili. Georgian experts have different opinions on this deal. Part of them believes this will contribute to the return of "Borjomi" to the Russian market, while others claim that all the strategic Georgian companies are now in Russia's hands, which has a negative impact on the economy.

One of the most famous Georgian brands - "Borjomi" - is sold out. Controlling interest of the IDS Borjomi, which had belonged to the family of the late tycoon Badri Patarkatsishvili, was acquired by one of the largest financial and industrial conglomerates of Russia - the company "Alfa-Group". Patarkatsishvili's family is concealing the details of the transaction. Patarkatsishvili's widow Anna Gudavadze merely notes that the family has sufficient shares to continue participating in the asset management.

Georgian experts are cautious when evaluating the transaction. According to the political expert Giorgi Khutsishvili, a more detailed study of this question is required to draw any conclusions. "Of course, the sale of such a well-known company is not an ordinary event, and we need to carry out a serious analysis. Unfortunately, I do not know why the family of Patarkatsishvili decided to make the deal. Neither I nor the general public knows the details of the transaction. This subject should be thoroughly studied and then we can make specific conclusions", said Khutsishvili.

As it became known, the family Patarkatsishvili sold the company "Borjomi" for 300 million dollars. Relatives of the late businessman owned 87% of the company. Shareholders of the company looked for a buyer from mid-2012. According to Forbes, the initial price of 100 percent of IDS Borjomi was $ 500 million. Among the contenders for the purchase of "Borjomi" there were Standard Capital, TPG, Klever Asset Management, but the winner is Russian "Alfa Group".

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