Business | Shipping
RAK firm owns all shares in Georgian port
Georgia has sold the remaining 49 per cent of its Black Sea port of Poti to RAK Investment Authority of the UAE for $65 million, its deputy minister Vakhtang Lezhava said on Wednesday.
- Reuters
- Published: 23:16 December 3, 2008
Tbilisi: Georgia has sold the remaining 49 per cent of its Black Sea port of Poti to RAK Investment Authority of the UAE for $65 million, its deputy minister Vakhtang Lezhava said on Wednesday.
"Now RAK Investment owns all the shares in the port," he said.
Earlier this year RAK Investment purchased the controlling 51 per cent stake in the port from the government for $90 million, plus a further 300 hectares of land in its vicinity.
Share this article
Popular in Business
-
XPRESS
Way to go this DSF
A fun-filled route to guide you to all the happening dos in town
Business Editor's choice
-
Shaikh Mohammad reaffirms UAE unity
Vice-President quashes talk of discord and reassures investors on the strength of Dubai's economy
-
Pizzazz on the palm: A Nikki Bisiker project
Bright, bold and ultra glam are the top notes of this apartment in The Palm Jumeirah's beautiful marina
-
flydubai starts service to Sudanese capital
Dubai's first low cost airline, celebrated its eighth inaugural flight in less than six months
