Economy, News

Gulf owner buys more shares in company

by | Nov 26, 2012

TBILISI, DFWatch — One of Georgia’s richest businessmen increased his share of ownership in one of the country’s largest chains of petrol stations.

Davit Iakobashvili is the largest shareholder in Gulf Company. According to Gulf’s press office, he has now increased his shares even more.

The company has 1300 employees and has invested USD 62 million in development since its founding in 2011.

Gulf entered the Georgian fuel retail market in spring 2011. It was founded by San Petroleum Georgia, a company owned by Energy Investments Venture of US.

Davit Iakobashvili is now the largest shareholder in Gulf. Forbes Russia ranked him 106th among the richest businessmen in Russia with a fortune of USD 950 million.

He is also founder of Wimm-Bill-Dann, one of the largest food companies in eastern Europe, and Iakobashvili is shareholder and member of the board of directors of AFK Sistema, which owns communication and oil corporations.

“I plan to continue investments and review projects in this context,” he has commented about own activity. “I also want to participate in charity programs of social importance.”

Gulf Company informs that Davit Kezerashvili, a former defense minister from November 2006 until December 2008, is not any more on the list of Gulf Georgia shareholders.

Kezerashvili left politics and became a businessman, buying stocks in Gulf.

According to the company, Gulf’s management professionals from Israel remain in their positions.



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