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Bidzina Ivanishvili

Reports: Ivanishvili Sells Pharmacy Chain in Russia ‎

Bidzina Ivanishvili 57%

 

Bidzina Ivanishvili, leader of an opposition Georgian Dream coalition, has sold his pharmacy chain in Russia, Doctor Stoletov, for an estimated USD 60-70 million, the Russian business RBK Daily reported on May 12.

 

The business daily reported that the company, which runs chain of over 400 drugstores, had been sold to St. Petersburg-based pharmaceutical wholesaler, Imperia-Pharma, reportedly affiliated with son of speaker of Russia's upper house of parliament Valentina Matviyenko.

 

Russian investment fund, Hi Capital, was also bidding but withdrew citing that proposed price was too high for loss-making Doctor Stoletov.

 

Doctor Stoletov reported 4.7 billion Russian rubles in revenues and net loss of 185 million rubles in 2011, the Russian daily Kommersant reported in January after Unicor, which manages Ivanishvili’s assets in Russia, made sale proposal to investors. The pharmacy chain was projecting 53 million rubles in net profit in 2012, according to that report.

 

It was announced on May 10, that Ivanishvili soldhis bank in Russia, Rossiyskiy Kredit, to a group of six private investors for USD 352 million.

...

 

 

Civil Georgia, Tbilisi / 12 May.'12

Read full article: Civil.ge

2012-05-13


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