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"Georgia Capital" investment company to sell part of its business

Business Materials 9 April 2021 21:32 (UTC +04:00)
"Georgia Capital" investment company to sell part of its business

BAKU, Azerbaijan, Apr.9

By Tamilla Mammadova – Trend:

"Georgia Capital" investment company has decided to sell part of its business, Trend reports via the company's annual report.

"Georgian Capital" plans to sell Ramada and "Gudauri Lodge" hotels.

According to the document, hospitality and real estate businesses, Georgian Beverage Holding (Teliani Valley and the beer producer), GreenWay (technical inspection chain) and other companies are for sale.

As the company noted, the total income of this segment increased by 14.5 percent in 2020 and amounted to 321 million lari ($93.9 million). The total assets of the segment stand at 215 million lari ($62.9 million).

As reported, the turnover of these segments increased in 2020, as follows:

● Real estate sales amounted to 69,000 square meters and increased by 153 percent compared to 2019;
● Wine sales amounted to 7.2 million bottles and increased by 19.4 percent compared to 2019;
● Beer sales amounted to 272,567 hectoliter and increased by 8.5 percent compared to 2019;
● Greenway Tech Inspection Service served 252,000 vehicles in 2020 and a decrease of 26 percent was observed compared to 2019;

According to "Georgian Capital", most of these businesses grew in 2020.

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