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Georgian Parliament adopted amendments to the "Law on State Property"

2011-10-12 14:43

Georgian Parliament adopted amendments to the "Law on State Property". 23131.jpegAt a meeting of the Georgian Parliament, amendments to the "Law on state property" had been approved. As explained by "Business-Georgia", the amendments will allow the Government of Georgia to sell shares and strategic assets of the country at international exchanges.

The opposition has tried to ensure that the law enshrined a ban on the sale of controlling stakes. However, they failed to do it. The new law preserves this rule only in respect of International Oil and Gas Corporation.

Earlier, Georgian Prime Minister Nikoloz Gilauri said that a 24 percent stake of the International Oil and Gas Corporation will be sold at international stock exchanges in London and Warsaw.

In addition, Sakartvelo intends to sell minority stakes of railroads and energy system of Georgia.

The opposition, however, consider that the new law will allow the Russian capital to pretend on the shares of Georgian sites.

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