Kibar Khalvashi

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Photo of Kibar Khalvashi.

Kibar Khalvashi (Georgian: ქიბარ ხალვაში; born 20 May 1963) is a Georgian businessman. The current "Rustavi 2" shareholder now lives abroad in Germany. Khalvashi has been placed in the list of Georgian millionaires.[1] The businessman founded many successful companies in Georgia, including co-founded Pepsi. He was chosen to be a representative and became an exclusive distributor of Procter & Gamble products via his company, ARTI Group. ARTI Group was established in 1996 and was a leading distributor company in Georgia, Azerbaijan and Armenia, with annual turnover surpassing 100 million USD and 850 employees.[2] After Irakli Okruashvili, former defense minister and at the time close friend of Khalvashi, accused Saakashvili of various crimes and formed an opposition party, Khalvashi was seen as a possible funder and supporter.[3] Soon after Okruashvili's arrest, a fire destroyed the factory of the distributing company, ARTI Group, causing millions of dollars in damage.[4][5] Following this, assets were frozen in Khalvashi's other companies, Priza LTD and International Building Company and were illegally seized.[6] Additionally, Khalvashi was forced under strong pressure of the Saakashvili-led government to concede Rustavi 2, which he purchased for $7 million in 2004, to a new owner in December 2006.[7] In July 2019, Khalvashi regained ownership of the channel after the European Court of Human Rights (ECHR) published a verdict on the lawsuit in favour of Khalvashi. However, a month later, Khalvashi announced that he would be selling the company after it became known to him that the company had accumulated a debt of 70 million GEL to creditors, most of which, he claims, was during the ongoing ownership dispute.[8] Later, Khalvashi decided to not sell the channel and instead would try to bring it out of debt.[9]

Khalvashi has three children with wife Nona Khalvashi named Dea, Daya and Mate Khalvashi.[10]

Kibar Khalvashi with his family.

References[]

  1. ^ "მილიონერების და მილიარდერების სია -> თბილისის ფორუმი". forum.ge. Retrieved 2016-04-21.
  2. ^ "The story of Rustavi 2". media.ge. Retrieved 2019-08-14.
  3. ^ ""Seized Business" campaign in Georgia"". Georgian Journal. Georgian Journal. 13 September 2012. Retrieved 2019-08-14.
  4. ^ "Fire destroys business owned by ally of arrested ex-minister". Messenger.com. The messenger online. 26 December 2007. Retrieved 2019-08-14.
  5. ^ ""არტი ჯგუფმა" ხანძრის შედეგად იზა���ალა". Civil.ge (in Georgian). 2007-12-24. Retrieved 2021-07-28.
  6. ^ "Seizure of property from Kibar Khalvashi". humanrights.ge. humanrights.ge. 4 January 2009. Retrieved 2019-08-09.
  7. ^ "Supreme Court: Rustavi 2 belongs to ex-shareholder Kibar Khalvashi". Agenda.ge. Retrieved 2021-07-28.
  8. ^ "Kibar Khalvashi Plans to Sell Rustavi 2 TV". Civil.ge. 2019-08-12. Retrieved 2021-07-28.
  9. ^ "Rustavi 2 owner decides not to sell TV channel after auction expiration". Agenda.ge. Retrieved 2021-07-28.
  10. ^ "რა მოხდა წლების წინ ქიბარ ხალვაშსა და..." tbiliselebi.ge. Retrieved 2016-05-09.


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