Big Georgian sale:
6 of over 100 state-owned assets auctioned to businesses for $3 mln

The Georgian government offered state-owned assets to businesses at the end of November 2019.  Photo: Ministry of Economy press office., 05 Dec 2019 - 17:30, Tbilisi,Georgia

Six of more than 100 assets offered to businesses by the Georgian government, “in an unprecedented project” on November 29, have already been sold at 8,090,000  GEL [3 million dollars], Georgian Minister of Economy Natia Turnava has stated earlier today.

She said that the initial price of the assets were about two million USD. However, during the auction they were sold at a higher price.

The auction website has already been visited by 15,000 people” Turnava said, adding that the sold assets will be replaced by “new and interesting offers.”

Ministry of Economy and the National Agency of State Property offered local and international businesses 100 assets for privatisation at the end of November.

Turnava said that the total initial price for these assets were 150 mln GEL ($50.4 mln/€45.8 mln). 

Georgian Prime Minister Giorgi Gakharia stated at the presentation of the project that “state-owned assets which are not fully involved in the Georgian economy should be involved in the economy as soon as possible in order to support the rapid economic growth of the country.”