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Three Companies Interested to Purchase Georgian Post

Three companies are interested in acquisition of Post of Georgia, the company director general Levan Chikvaidze told BM.Ge. The value of Georgian Post will be specified by the audit, Chikvaidze said.

“there are several interested auditors. There are bodies interested in making investments in various separate directions. Therefore, according to our information, Ministry of Economy has decided to determine the company value through the audit.

Today we have the value of assets totaling 85 million GEL. But this is not classical business and the value of assets does not equal to the company price, because there is losing directions too, which were financed by 6 million GEL in 2018.

I know three interested companies, which have submitted their written intensions for making investments”, Levan Chikvaidze said. At this stage, the mentioned three companies are not divulged.

The selected auditor company will finish the auditing process in 3-4 months, Chikvaidze added.  According to the 2018 report by Post of Georgia, the company’s asset rose in value by 12 million GEL in 2018 and totaled 85 million GEL, while the annual turnover increased to 103 million GEL from 90 million GEL.