Who Owned Georgia English.pdf
Who Owned Georgia English.pdf Who Owned Georgia English.pdf
On December 24th, the economy ministry reported theKazakhs were out of the picture, while on January 11th, PrimeMinister Zurab Zhvania announced the Czech and Kazakhproposals had been rejected and the remaining three partieswere invited for individual negotiations. Zhvania also said,“The Austrian company has even made a USD 10 million downpayment in an attempt to demonstrate its serious intentions overthis deal.” The new closing date was slated for January 18th. 347The three companies initially submitted separate bids, butEvrAzHolding and «DMC Ferro» decided to re-apply with a jointbid and won the tender for $132 million. EvrAz Holding wonthe bid, even though economy minister, Aleksi Alexishvili, saidthe Ukrainian Interpipe Corp had submitted the «better» bid.Interpipe offered $117 million for Chiaturmanganumi/Vartsikheand pledged to invest $60 million into the enterprises withinthree years. Interpipe Corp was owned by Viktor Pinchuk, theson-in-law of former Ukrainian President, Vladimir Kuchma. 348Georgian officials, including State Minister for EconomicReform at the time, Kakha Bendukidze, said they decided againstInterpipe because the Ukrainian company had allegedly urgedthe government to also let it take control of Zestaponi Fero-Alloy Plant, a property owned by DCM-Ferro. In response toBendukidze’s accusation of «banditry,» Interpipe charged thatGeorgia’s privatization campaign was «a vague process with norules.» 349“Until 6 PM on January 18, we knew that Interpipe andRussian Evrazholding were leaders (in the bid), but a half anhour later, Prime Minister Zurab Zhvania informed the publicabout the submission of a new proposal. After this, we refusedto participate in such a privatization process. ... Unlike othercompanies that only included prices in their proposals, we347 Ibid348 Interpipe Talks about Incorrect Privatisation. Civil Georgia. January 19, 2005http://www.civil.ge/geo/article.php?id=8636349 Georgia Votes in New Government. John Mackedon Eurasianet http://www.eurasianet.org/departments/insight/articles/eav021705.shtml Accessed on04/12/201286
presented a detailed plan. We were proposing $117 millionfor Chiaturmanganese, and were ready to pay $20 million forFerroalloy Plant, but our proposals were rejected,” said Interpipe’schairman of the supervisory board, Igor Jaroslavtsev. 350David Gamkrelidze, ex-leader of the New Rights Partyaccused Bendukidze, an oligarch who made his fortune in Russia,of “transferring this property to his friends and acquaintances ina hasty, illegal and non-transparent way.» 351In June 2005, one month before expiration date of the termsof the first installment payment, Evrazholding terminated theagreement, taking a loss of $18 million. The official versionwas that after the company signed the contract, it studied theconditions of the installations, decided they were unprofitable andcancelled its agreement. Another version was that Evrazholdinghad received certain guarantees from Prime Minister Zhvania,but after his death in February 2005, the government refusedto reaffirm these guarantees. Yet another account has it thatEvrazholding was required to cover Chiaturmanganese’s debts,a condition that was not included into the initial agreement. 352While Interpipe and Evrazholding were competing over thetender, the Ministry of Finance of Georgia, a major creditor ofChiaturmanganese, filed for the company’s bankruptcy on January6, 2005, making it legally impossible for Chiaturmanganese todispose of its property. Its creditors were requested to bringtheir claims against the enterprise to court, but for some strangereason most of the creditors never arrived at court on the thegiven day, leaving the NGO, Green Alternative, who had beenmonitoring the privatization process to assume the creditors350 Aggressive State Property Privatization Policy. Green Alternative Report p.18http://www.greenalt.org/webmill/data/file/publications/Privatizeba-Eng4.pdfAccessed on 04/12/2012351 Georgia Votes in New Government. John Mackedon Eurasianet http://www.eurasianet.org/departments/insight/articles/eav021705.shtml Accessed04/12/2012352 Aggresive State Property Privatization Policy. Green Alternative Report p.19http://www.greenalt.org/webmill/data/file/publications/Privatizeba-Eng4.pdfAccessed 04/12/201287
- Page 38 and 39: the shares and LLC Investico Allian
- Page 40 and 41: 38WHO OWNED OUTDOOR ADVERTISING?Whe
- Page 42 and 43: The latest Civil registry entry has
- Page 44 and 45: On September 12, 2011, JSC Adprojec
- Page 46 and 47: ut we are only partly correct. The
- Page 48 and 49: estaurants to confiscate documents
- Page 50 and 51: Delta Holding, the football (soccer
- Page 52 and 53: A PHARMACEUTICAL OLIGOPOLY“Why ar
- Page 54 and 55: to construct manufacturing sites an
- Page 56 and 57: A loan from the European Bank for R
- Page 58 and 59: People’s Pharmacy, a small pharma
- Page 60 and 61: the large import/distributors and r
- Page 62 and 63: that the decrease could be their sh
- Page 64 and 65: Kvadimax, Enozid H, Musitroli, Amta
- Page 66 and 67: 64IT’S CALLED DEVELOPMENTIn 2002
- Page 68 and 69: uling party leader in the region wa
- Page 70 and 71: Federation. The Georgian prosecutor
- Page 72 and 73: went to Argilstone Investment and 4
- Page 74 and 75: (10%). 290 Like Lemise, Interplast
- Page 76 and 77: then buying it back from that group
- Page 78 and 79: elonged to Kapital Vostok, a Swiss
- Page 80 and 81: a fantasy settlement just south of
- Page 82 and 83: made quite a profit, as Sairme is i
- Page 84 and 85: and the Tbilisi Development Fund, t
- Page 86 and 87: land from the Fund along Aghmashene
- Page 90 and 91: had never been properly notified. 3
- Page 92 and 93: In 2009, Stanton was renamed GeoPro
- Page 94 and 95: Tkibuli is a derelict post-Soviet i
- Page 96 and 97: POSTSCRIPTWhen Georgians went to th
- Page 98 and 99: While Rustavi 2 was passing through
- Page 100 and 101: On October 5, Maestro TV and Global
- Page 102: and further reasons why foreign inv
presented a detailed plan. We were proposing $117 millionfor Chiaturmanganese, and were ready to pay $20 million forFerroalloy Plant, but our proposals were rejected,” said Interpipe’schairman of the supervisory board, Igor Jaroslavtsev. 350David Gamkrelidze, ex-leader of the New Rights Partyaccused Bendukidze, an oligarch who made his fortune in Russia,of “transferring this property to his friends and acquaintances ina hasty, illegal and non-transparent way.» 351In June 2005, one month before expiration date of the termsof the first installment payment, Evrazholding terminated theagreement, taking a loss of $18 million. The official versionwas that after the company signed the contract, it studied theconditions of the installations, decided they were unprofitable andcancelled its agreement. Another version was that Evrazholdinghad received certain guarantees from Prime Minister Zhvania,but after his death in February 2005, the government refusedto reaffirm these guarantees. Yet another account has it thatEvrazholding was required to cover Chiaturmanganese’s debts,a condition that was not included into the initial agreement. 352While Interpipe and Evrazholding were competing over thetender, the Ministry of Finance of <strong>Georgia</strong>, a major creditor ofChiaturmanganese, filed for the company’s bankruptcy on January6, 2005, making it legally impossible for Chiaturmanganese todispose of its property. Its creditors were requested to bringtheir claims against the enterprise to court, but for some strangereason most of the creditors never arrived at court on the thegiven day, leaving the NGO, Green Alternative, who had beenmonitoring the privatization process to assume the creditors350 Aggressive State Property Privatization Policy. Green Alternative Report p.18http://www.greenalt.org/webmill/data/file/publications/Privatizeba-Eng4.<strong>pdf</strong>Accessed on 04/12/2012351 <strong>Georgia</strong> Votes in New Government. John Mackedon Eurasianet http://www.eurasianet.org/departments/insight/articles/eav021705.shtml Accessed04/12/2012352 Aggresive State Property Privatization Policy. Green Alternative Report p.19http://www.greenalt.org/webmill/data/file/publications/Privatizeba-Eng4.<strong>pdf</strong>Accessed 04/12/201287
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