08.Oct .2020 19:04

100%-share of Georgian air company Myway Airlines sold

100%-share of Georgian air company Myway Airlines sold
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Georgian Huashun International Industrial Investment Group LTD, holder of Georgian Myway Airlines, is selling 100%-share of the air company. It becomes clear fromе the purchase agreement published on the web-page of the Public Registry of Georgia.

According to the agreement, LLC ფლას ავიეისენ ინვესთმენთ კო., ლტდ. is buying the 100%-share of Myway Airlines at 1.9 million USD.

The purchase agreement was signed on September 21,2020. The company applied to the Public Registry for registration on September 23. However, the state agency refused to alienate 100%-share of Myway Airlines.

The reason for the decision of the National Agency of Public Registry is a lack of documentation on the purchase sum. “Public Registry does not hold the document referred to the paragraph 4.1 of the contract, respectably it is not determined if the buyer has paid the purchase sum and signed an agreement on the transfer of shares”.

According to the paragraph 4.1 of the contract, the transfer of shares must be done at the public register or notary bureau within 3 working days after the payment of purchase sum. After that, those documents must be submitted to the public registry for registration.

To note, Georgian Huashun International Industrial Investment Group LTD is owned by LLC სინძიანის სავაჭრო-საწარმოო კომპანია ხუაშუნ ლტდ“.

BM.GE contacted Myway Airlines regarding the sale of 100%-share of the airline. The air company stated: "The airline continues to operate in a usual mode and we do not have information about the decisions of the company's partners."