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Georgian Tycoon to Sell his Last Russian Business Asset

Published: September 7, 2012 | 11:33 am
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The COMMERCIAL TIMES

Georgian billionaire Bidzina Ivanishvili, leader of the opposition party Georgian Dream, has sold his last Russian business asset, his management firm said on September 6.

Unikor group in a statement said that Ivanishvili, 56, had sold Stoilenskaya Niva for $180 million to the U.S. Arco International Group and the transaction was expected to be completed within two month.

Earlier this year Ivanishvili sold his real estate development assets to Russian property group BIN for $982.5 million, his Russian bank Rossyisky Credit to a group of private investors for $352 million, as well as a pharmacy chain for approximately $60 million.

Ivanishvili’s total assets are estimated by Forbes magazine at $6.4 billion.

 

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