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Ivanishvili Sells Russian Bank

TBILISI, Georgia — Georgian billionaire Bidzina Ivanishvili has sold his Russian bank Rossiyskiy Kredit Bank to a group of private investors for $352 million, his management company Unikor group said in a statement on Thursday.

Ivanishvili, a once reclusive tycoon whose wealth is estimated at $6.4 billion by Forbes magazine, launched his own political movement in Georgia and called for President Mikheil Saakashvili's resignation in October last year.

He also promised to sell all his assets in Russia and invest money in the Georgian economy instead.

(Reuters)

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