Best Energy Group Buys 24.5% Share in Telasi

The 24.5% stake in JSC Telasi has been sold. Only one company had submitted an application for the auction. The mentioned stake was bought by the Best Energy Group company.

The value of the sold stake is GEL 32.381 million. The public auction was held on September 9. The starting price was $10.511 million. It should be noted that TELASI is an unprofitable company.

According to the January-June indicators, TELASI incomes from electricity supply constituted only GEL 190.59 million, while the figure in the same period of 2019 exceeded GEL 226 million. The pandemic has extremely narrowed electricity consumption in both the retail and corporate sectors.