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Forbes: GIG to Buy KazTransGas Tbilisi

According to the Kazakh Forbes, Georgian Industrial Group (GIG) plans to buy KazTransGas Tbilisi. According to the edition, the value of the deal is 40 million USD. The decision has been taken by the board of directors of KazTransGas.

According to the edition, KazTransGas launched operation in Georgia in 2005. The company expressed willingness to buy the company in 2009, after debts to Georgia hit 48 million USD.

Negotiations for the company sales started in 2009.

According to KazTransGas, before 2009 the company invested 100 million USD in KazTransGas Tbilisi.

We remind you that in 2017 KazTransGas sued Government of Georgia to court. The company failed to sell the subsidiary and now it is trying to return the subsidiary. KazTransGas has submitted an appeal to arbitration court to regain KazTransGas Tbilisi.

Currently, KasTransGas Tbilisi is managed by GNERC-appointed special manager Gigla Tamazashvili till April 1.