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Ivanishvili Sells Agriculture Business in Russia for USD 180m
Civil Georgia, Tbilisi / 6 Sep.'12 / 16:44

Bidzina Ivanishvili, leader of Georgian Dream opposition coalition, has sold his “last remaining business asset in Russia”, an agriculture corporation, Stoilenskaya Niva, for USD 180 million, Unicor, which manages Ivanishvili’s Russian assets, said in a statement on September 6.

Unicor said that the company, which produces flour, grain crops, breadstuff, and processes meat and milk, was sold to “the American investment fund Arco International Group”; the deal is expected to be closed within next two months, according to Unicor.

Ivanishvili, who met with visiting U.S. Senators in Tbilisi on September 6, told journalists after that meeting that he told the Senators about selling of his last remaining asset in Russia.

“It was bought by a very famous American fund and they [referring to the U.S. Senators] have seen it very well that illusions and lies through which Saakashvili portrays me as the Kremlin agent are false,” Ivanishvili said.

It was announced on May 10, that Ivanishvili sold his bank in Russia, Rossiyskiy Kredit, to a group of six private investors for USD 352 million. He then sold his pharmacy chain in Russia, Doctor Stoletov, for USD 60 million and real estate assets in Moscow for USD 982.5 million.

Ivanishvili, who was ranked at 153 position in Forbes magazine's annual list of the world's billionaires in March with an estimated worth of USD 6.4 billion, announced about intention to sell his assets in Russia, when he declared about going into politics in October, 2011.

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