Support The Moscow Times!

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

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.