Five companies have expressed an interest in buying state-owned Georgian Railway Ltd, the Georgian Economy Ministry said after the proposal submission deadline had passed on January 25.
The list includes:
- Stratton Holdings, which the Economy Ministry said was a U.S.-based firm;
- Centr Invest Capital Partners – the Economy Ministry said it was a Russian company, but no other information is available;
- Capital Investment Group AG – the Economy Ministry said it was a Swiss company; no other information is available;
- East Capital – the Economy Ministry said it was a U.S. company; an internet search, however, produced a company with the same name based in Stockholm and specializing in asset management with a focus on Eastern European markets;
- Silk Road Group – a company with diversified business interests in transportation, real estate, financial services; the holding operates a fleet of about 3,000 rail tank cars.
Submitting a proposal, the details of which still remain confidential, does not necessarily mean that the country’s railway network will be sold. The Economy Ministry said it still hadn’t even decided whether the network would be privatized or the management rights handed over. A share issue was also an option, officials said.
An expression of interest by a potential investor, according to the Economy Ministry, does not oblige the Georgian side to sell any entity. The Economy Ministry said it reserves the right at any time to withdraw from the purchasing procedures; or suspend or change or exclude any interested party from the purchasing procedure.