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IDS Borjomi Georgia

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Photo: IDS Borjomi.
Georgia

Borjomi water to be ‘partially nationalised’

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The owners of struggling Georgian mineral water producer Borjomi are to transfer a part of the company’s shares to the government free of charge, the company has announced. On Thursday, Borjomi told OC Media that following negotiations with the Georgian Government, the producer’s controlling company had submitted a formal proposal to transfer the shares. Russian Oligarch Mikhail Fridman, who has been sanctioned by the West over the Russian invasion of Ukraine, owns a controlling stake in Bor

Borjomi bottling line. Photo: IDS Borjomi Georgia
Georgia

Borjomi ceases production citing Ukraine war 

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IDS Borjomi Georgia has indefinitely ceased production, citing ‘difficulties’ brought about by the war in Ukraine. The company’s majority shareholder, Mikhail Fridman, a Russian oligarch, is currently facing Western sanctions. IDS Borjomi, one of the biggest names in the Georgian mineral water industry, announced the ‘temporary’ cessation of its operations as of Friday.  In a statement, the company blamed disruptions in export markets as well as a lack of access to bank accounts. ‘The diff

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