Pernod Ricard, the French drinks giant, said on June 29 that it had sold shares in Georgian Wine and Spirits LLC (GWS) to Georgian unit of Marussia Beverages BV, wine and spirits group registered in the Netherlands.
Amount of the deal has not been disclosed.
Pernod Ricard, the world’s second-largest spirits group after Diageo, has owned majority of shares in GWS since late 1990s through its affiliate PR Europe S.A.
GWS, once a leading Georgian wine producer company, was founded in 1994 by now an opposition politician Levan Gachechiladze, who sold his remaining 9% shares in the company to Pernod Ricard in December, 2007 to, as he said at the time, fund his presidential campaign.
New owner of GWS is JSC Marussia, a local unit of Marussia Beverages BV. The latter, which is registered in the Netherlands also has its unit in Russia, Marussia Beverages RUS.