Giorgi Bachiashvili is no longer the owner of the managing company of "Co-Investment Fund" affiliated with Bidzina Ivanishvili.
According to the deal concluded on December 2, Giorgi Bachiashvili transferred 100% of the shares of "GCF Partners" to Bidzina Ivanishvili's nephew, Kakha Kobiashvili, who became the sole owner of "GCF Partners" on December 5. The details of the purchase are not public.
The company "GCF Partners" was founded in May 2013. At that time, 42-42% of the company was registered in the name of Ucha Mamatsashvili and Giorgi Bachiashvili, and 16% was registered in the name of Levan Vasadze, who left the company after 1 year, and only Bachiashvili and Mamatsashvili remained in the structure of owners.
From February 2018, Ucha Mamatsashvili transferred his own 50% to Giorgi Bachiashvili, and from this period Bachiashvili was the owner of the company in the official documentation.
As for Kakha Kobiashvili, he can be found in many companies related to Ivanishvili. He is Ivanishvili's nephew and was included in the Transparency International Georgia (TI) studies as well.
"The official representative of Bidzina Ivanishvili's offshore companies operating in Georgia is his nephew, Kakha Kobiashvili," the organization wrote in one of its recent studies.
From the financial statements prepared by "GCF Partners", it is clear that in 2021 the company had assets of GEL 6.745 million. The net profit was GEL 0.64 million, while in 2020 the net profit exceeded GEL 2.7 million. Last year, the total assets of the company were estimated at GEL 14.4 million GEL.
