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:

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more