Georgian PM Announces Completion Of Talks On Gov't Co-Ownership Of Borjomi Mineral Water Company
Date
6/14/2022 3:43:55 AM
(MENAFN- Trend News Agency)
The Georgian government has completed talks with shareholders of
IDS Borjomi, one of the largest mineral water producers in Georgia,
and will become a co-owner of the enterprise without having to make
expenses for the move, Prime Minister Irakli Garibashvili announced
on Monday, Trend reports citing Agenda .
The company revealed its controlling shareholder would transfer
a 7.73 percent share of the company free of charge to the
Government, adding the former would no longer have the controlling
function.
Its announcement also said the number of such shareholders on
the Board of Directors would be reduced from eight to two members,
with the Chairman of the Board set to be a Government
representative.
Garibashvili said the deal had been agreed with the country's
international partners and through consultations with British-based
regulators. He also pledged to solve ongoing issues between the
company and about 400 of its employees, who are on strike with
demands of reinstatement of 50 coworkers dismissed recently.
Their other requests include issuance of salaries, return to
previous labour conditions and lifelong contracts for each employee
of the company.
Garibashvili pointed to involvement of Levan Davitashvili and
Zurab Azarashvili, the country's Economy and Health ministers, in
negotiations between the parties, and called on the officials to
solve the issue“as soon as possible”, noting support for the“fair
demands” of the employees.
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