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Co-Investment Fund Responds to Patarkatsishvili Family’s Comments

Published: October 18, 2013 | 1:05 pm
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The Georgian Co-Investment Fund has responded to the Patarkatsishvili family’s statement. The family has threatened to withdraw from the CIF, should the Supreme Court uphold the decision of the court of first instance with regards to the Rustavi metallurgical plant. In a written statement, the CIF has said that it continues to work with all of its investors as normal, including the Patarkatsishvili family. The family has not addressed the fund officially with regards to the possibility of ending its cooperation. However, the statement says that the Patarkatsishvilis have the right to end their partnership at any time, in which case the CIF would search for alternative investments. At this moment in time, both sides continue to cooperate as normal. The statement also emphasises that the Patarkatsishvili family’s comments, or any potential future moves on their part, will not have a negative impact on the fund’s image, since in this case, the investor would be making use of his rights, which would be normal in any fund’s case.

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