05.May .2022 19:00

Beeline To Become Majority Shareholder Of Beeline

Beeline To Become Majority Shareholder Of Beeline
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The owner of Beeline changes, - the relevant decision has been adopted by Georgian Communications Commission. According to the meeting of the commission, Georgian businessman Khvicha Makatsaria becomes a 100%-shareholder of the company, who has applied to the commission on April 4 to buy the shares.

"Beeline" is currently owned by VEONI Georgia Holding B.V., which holds two companies, WATERTRAIL INDUSTRIES LTD and Investico Alliance LTD.

WATERTRAIL INDUSTRIES LTD owns 71% of Vioni Georgia, while Investico Alliance LTD owns 29%. Accordingly, the purchase of a 100% stake in both companies by businessman Khvicha Makatsaria means that Khvicha Makatsaria becomes a 100% owner of Vioni Georgia.

Vioni Georgia used to be part of the international group "VEON". VEON is registered in the Netherlands, but 47.9% of its shares are owned by Letterone Investment Holdings S.A., founded and controlled by Russian businessman Mikhail Fridman, who has been listed by a number of countries among the sanctioned oligarchs since the start of hostilities in Ukraine.

Vioni Georgia's assets amount to GEL 120 million; In 2020, this company saw a loss of GEL 92 million, and in 2019 - GEL 40 million.

In 2021, the income of "Vioni" was GEL 100.5 million. The company has 1,279,951 subscribers.