Iberia Business Group has handed over a part of its assets to 2 commercial banks – TBC Bank and Bank of Georgia. The company executive director David Gogorishvili told the Commersant that assets were conceded to reduce the indebtedness on condition of further buying off.
Gogorishvili does not specify how much the loan is. He only noted that the company has cut the existing debts by 8 million USD.
We transmitted 4 service centers to these 2 commercial banks. All of them are located in Aghmashenebli Alley”, Gogorishvili noted.
The company executive director has not specified which service centers were transmitted to the banks.
Iberia Business Group owns 5 service centers in Aghmashenebeli Avenue: Mitsubishi Motors Center (central office), Skoda Auto Center, Seat, Volkswagen Center and KIA Motors Center.
IBG was founded in 1999. Currently, it is an official representative of the following vehicle brands: Volkswagen, Audi, Skoda Auto, Kia Motors, Renault, Mitsubishi Motors, Seat.