Support The Moscow Times!

Now is the time to support independent reporting from Russia!

Contribute Today

Ivanishvili Sells All Russian Assets

Seeking to counter charges that he is Russia's proxy in Georgia's elections, billionaire Bidzina Ivanishvili has sold his last Russian business asset, his management firm said.

Unikor group in a statement late last week 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.

Ivanishvili told Reuters in an interview in May he was expecting to get $250-$300 million for Stoilenskaya Niva, or approximately what he had invested.

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.

Related articles:

Read more