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UPDATE Tbilisi press: Romanian businessman Dinu Patriciu bought the majority shares of the People's Bank in Georgia for 7 million dollars

de A.C.     HotNews.ro
Miercuri, 16 septembrie 2009, 14:58 English | Regional Europe

Georgian newspaper Commersant reads, quoting reliable sources that Romanian businessman Dinu Patriciu bought, together with former PM Vladimer Lado Gugenidze the majority of shares of the Georgian People's Bank. A representative of the bank refused to confirm the transaction but declared for HotNews.ro that the General Director will organize, next week, a press conference to make an important announcement. Dinu Patriciu could not be contacted.

We have the confirmation from close friends of Gurgenidze, a Georgian journalists declared for HotNews.ro. We know that Patriciu is currently in Georgia but there is no official announcement, Commersant journalists declared. The quoted source declared that Patriciu paid some 7 million dollars for the shares.

Patriciu published on August 21 an editorial in the Romanian daily Adevarul in which he applauded the Georgian model. The businessman ended his article with a Post Scriptum reading that he has business interests in Georgia.

UPDATE The Popular Bank has a 3% market share with 200 brances across the state. In the first two quarters of the year the bank revealed 17 million dollars losses after it was taken over by the Evroil group.

This is not Patriciu's first business in Georgia. The Rompetrol Group, with Dinu Patriciu as share holder and administrator opened a branch in Georgia.

Former Georgian PM Vladimer Lado Gurgenidze did not wish to neither confirm nor deny the information for HotNews.ro but added that an announcement will be made soon.
























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