Support The Moscow Times!

Borjomi Up For Sale

The owner of IDS Borjomi Beverages has put it up for sale, and some Russian investors have already shown interest, Kommersant reported, citing one of the interested buyers.

Standard Capital, Ashmore Investment, Russian Direct Investment Fund, TPG Capital, Klever Asset Management and AFK Sistema were named among those looking to buy IDS Borjomi from Salford Capital Partners. The price of the company is estimated at $400 million to $500 million.

Russian authorities banned the Georgian-produced mineral water — along with Georgian wine — from the country in 2006, citing poor quality of the product. Until then, Russia was the brand's biggest market. The company's share in the market was over 10 percent, according to AC Nielsen.

(MT)

Correction: In a version of this business brief published on page 6 in the Monday, Sept. 3 edition of the paper, Salford Capital was incorrectly identified as a firm controlled by Boris Berezovsky. Berezovsky? was one of the initial founders of Salford Capital, but is currently not a shareholder in Salford and does not have any financial, managerial or voting control in the company.

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