SOCIETY

IDS Borjomi International announces submission by its controlling company of an official offer to transfer its shares to the Government of Georgia on a gratuitous basis

19.05.22 15:00


IDS Borjomi International announced today that further to negotiations with the Government of Georgia its controlling company has submitted an official proposal to transfer a part of shares in IDS Borjomi International to the Government of Georgia free of charge.

 

According to the company, this step will allow the Government of Georgia to participate in the management of IDS Borjomi International.

 

"Due to the recent negative developments in the region, IDS Borjomi International has been experiencing interruption of business and difficulties with banking services as a result of which it shut down its production factories in Borjomi, Georgia with over a thousand of its employees facing the risk of unemployment.

 

Upon acceptance of the proposal made by IDS Borjomi International’s controlling company to the Government of Georgia, IDS Borjomi Georgia will be able to continue its operations in the ordinary course," reads the statement.

 

 

source: IPN 

Read: 343


Write comment

Warning!
(In their comments, readers should avoid expressing religious, racial and national discrimination, not use offensive and derogatory expressions, as well as appeals that are contrary to the law)

Send
You can enter 512 characters

News feed


Caucasus Plus