Tbilisi energy company Telasi sells 25% of shares for $10.5 mln

Georgian Best Energy Group has purchased 25 per cent of shares in electricity distribution company Telasi, which serves the Georgian capital city of Tbilisi, for $10.5 million.

The state-owned shareholding company Partnership Fund has held a public auction to sell 24.529 per cent of its shares of JSC Telasi’s equity.

Ltd Best Energy Group won the public auction, buying the shares for $10,527,467. The starting price of the public auction was the equivalent of $10,511 211.08 in the Georgian national currency", reads the press-release published by the Partnership Fund.

Best Energy Group is related to CBS Group which is a Georgian business group, holding Tbilisi Energy, Georgian National Lottery, GSN, Tbilisi Minibus, Railway Telecom and other companies.