Presidential Candidate Gachechiladze to Sell GWS Shares

Levan Gachechiladze, a presidential candidate backed by the nine-party opposition coalition, said he would sell shares in the Georgian Wines and Spirits (GWS) company to fund his election campaign.

?To cover the most immediate financial needs, I have already decided to sell shares in GWS,? Gachechiladze said on December 6. ?I make no secret of the fact that I am also negotiating with Badri Patarkatsishvili [who himself is a presidential candidate] about funding; let?s see.?

Gachechiladze did not say if he would sell all or just some of his GWS shares. He reportedly owns 49% of the company, with the majority stake owned by Pernod Ricard, the world?s second largest producer of alcoholic beverages.

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