" - 100%

. , ,
. -
2014 . , ,
, , ,
.
- .

, ,
,
,
. ,
,
, .

, ,
,
,
.

I.
, , 2011
,
.
.

- :

- 100% ;
- 100% ;
- 100% ;
- 100% ;
- 24.5% .

-
2 .
.

1
 /
,
.

/ ,

- ,
.
,
..
,
100%-
.

/ ,

-
.
.
.

.,
50%- . ,

.

,
,
,
. (
).
, ,

,
.

,
. ,
.
,
- . ,
.

, - /

2
 , ,
.

II.
1.
2016 , 10 , 7- .

2016 :
- ";
;
;
Panex;
;
Rixos Borjomi;
;
/;
;
.

- , - /,
-
2014 ,
.

1.1.

3
 - "
:
: $ 4,6
: 2016

2015 Georgian Fresh Holding B.V-

, 1.5 .
700
, ,
.
, 4.2
, 1.4 .

, Georgian Fresh Holding B.V-

Greenery . Georgian Fresh Holding
B.V 2014 , ,
2010 . :
( ,
, 50%)
.Food ventures Georgia B.V ( 50%- ).
2 ( 2.1 )
(Dutch
Growth Fund, Stichting ifund).
50%- . ,
- 50% , ,
.
, ,
. , Georgian Fresh Holding B.V,
50.35%- ,
2016 ( ,
)
4,000,000- 5,000,000- . .

: ,
, - ,
- . : - 49.650% Georgian
Fresh Holding B.V - 50.35%.
.
.

-
,

.

4
1.2.

: ,
: 15
: 2016 .

5 , 10
10 000 2-. , ,
, , ,
, , , .

.
,
2015 2016 .
- ,
AECOM- .
2004 23 .
75% , 25%- ,
- , - . 2012
35 000
, 5 000 . - - 61
; - 17 - -
751,934 . , -
, - , All seasons- 100% ,
- , -- , GEORGIAN MOTORS
- (100%), - (40%) ..+ - (50%).

-- , -
, - - (33.5%).

5
 , 2014 29 .
2015 21 , .
- 100% .
.
- ,
- ,
- ,
- - .

-
,

.

1.3.

(VANRIK AGRO) :
,
: $6.7
: 2015 .

2015 25
(VANRIK AGRO)
- 2015 .
. 70
.
, ,
.
- GIZ- .

2015 11 ,
- ( 2012 )
- ( 2010 ) . ,
-
. , -

. ,
.
6
 - +-
(100%).

-
,

.

1.4. Panex

Panex
:
: $ 6
: 2015

2014 ---- (ICES)

, . - .
.
ICES- ,
49%- . 2.8 2
40%- : , , . 2015
ICES- .

2015 .
,
.

--- ICES 2007 29 . 2009

- ,
100%- . 2009

7
 ---- .
(100%- )
.
. ICES - - 22
, - 10 - 4,390,250
. - ,
- (30%), ICES FIZ-. ,
ICES trade- , Salt Sea Beauty- , -
(100%), - (100%), -
(5%), - (45%) - (20%).

2014 18 .
, . -
. .
.
- , ...+- ,
- (67%), - ,
- (32%), - (30%)
- - (20%).
.. - (0.43%), ...+- (100%),
- (15%), - (20%)
-- (2.4%).

-
,

.

1.5.

8

:
: 230
: 2015

2013
(ALIK ENERJ)
. 2014
. 231 .

. -
. 40 - - ,
3 .
237 -, 1.6 /.
50%- ,
.
20-25

. 2015 .
30/08/2012 .
(
). :
. . : -
49.0%; -51.0%.
.
,
.

- , -
,
.

- .
;

- - 15%
.

-
,

.

9
1.6. Rixos Borjomi

5 "
: "
:
: 151
: $ 48
: 2015

5 - - RIXOS Borjomi-
- .
48 ;
50%-. , .
RIXOS- .
RIXOS- 2000 ; 20-
, , , , ,
. 2006 ,
. 2015
14 " "
. 152 , .
, -, ,
, , , "
. 2016 20 RIXOS -

. , RIXOS
.

10
 -
5 "- .
-
.

2.
2016 :
1. Hyatt Regency;
2. ;
3. Best Western;
4. ;
5. 2;
6. 2;
7. Radisson ".

2.1. Hyatt Regency

5 Hyatt Regency
:
: 170
: $ 65
: 2018 .

2015 Merrydow Development Holdings LTD -

5 - Hyatt Regency - .
, . ,
. .
170 , , , ,
. Merrydow Development Holdings LTD -
,
(
). 2011

11
, , 2015
.

, 2005
,
, 2007 - . 2007
. - ,
- (100%) - (50%).
.

Merrydow Development Holdings LTD - ,

.
- - , Hyatt
Regency- LCG - Loyal Capital Group - ,
Merrydow Development Holdings LTD - ,
Merrydow Development Holdings LTD - .
, Merrydow Development Holdings LTD -
/ - ONE WORLD SECRETARIAL LIMITED - , ,

Goldblatt Holdings Limited FIRST RUSSIAN FOREX COMPANY LTD - .
Merrydow Development Holdings LTD-
.

, LCG - Loyal Capital Group - , .

- ( -)
, 2011 .
.

12
 -
5 Hyatt Regency-
Merrydow Development Holdings LTD- ,
, LCG - Loyal Capital Group-,
Merrydow Development Holdings LTD.
, Merrydow Development Holdings LTD - ,
LCG - Loyal Capital Group-
.
, - LCG - Loyal
Capital Group- - .
.
, ,
,
,
.
.

2.2.

:
: $ 85
: 2017

2015
Elbit Cyclone ,
- JSC Aerostructure Technologies
Cylone (ATC) . ,
: , ,
. 2015
2017 ,
13
 2018 . -
.

. (12 . )

(,
, ). ,
-
Elbit Cyclone-
- JSC Aerostructure Technologies Cylone (ATC)-.
Elbit Cyclone-
,
.

ELBIT Cyclone ELBIT Systems- ,

: / ,
. ELBIT Systems 1966
NASDAQ- (ESLT) - (TASE)
.

- JSC
Aerostructure Technologies Cylone (ATC)
ELBIT- . 100%-
, Boeing, Airbus, Bombardier
. JSC Aerostructure Technologies Cylone (ATC) - -
() Elbit Cyclone-
19/06/2015 .
( ),
(). : , ,
(). :
( ) - .
.
- (1.6%), -
(70%) -- - (10%).

.
2014 .
, :
- 25%, - 25% -.. & -
50%.

,

, 2016 29 40%-
11 -
.

14

, - 2013 5 - 2014 28 . 2013
,
, 2014
(). 2013
- , -
. - 2014
20 , ,
.

- 2006 17
(100%) . 2014 20
, - -
, -
- 2016 3 .

2005 3 ,
75% ( ) 25%
, 25% 2016
, , .

.
-- (66%) , - ,
- (25%) - - .

-
.
, (
)


. 2016 29 40%-
11 -
.
. 2013
, .
- . ,
,
.
, ,
.

2.3. Best Western

15
3 Best Western
:
: 45
: $ 3
: 2017

2015
.
3 . 40 , 5
, 3 - .
3 , 1.4 .
" , , Best Western International-
. ,
( ) .
12/12/2013 . -
, 100%-
. - , -
, - (25%), -
- . -
(100%), .
23/09/2015 (2007
, 2015 - ). -
, -100%.

05/03/2014 ,
- 25% ,
- ,
25% -25%- . 25%
.
,

16
 - , --- (50%)
(14%). -
(50%) --- (50%).

,
, , -
- -
.
.

-
,

.
2.4.

: ,
: 280
: $ 1
: 2021

. - . .
280 1.2
/ - . 1 .
-
.
"-
(KWater) . -
-" Salini Impregilo - GCC
.
(EBRD), (ADB) " .
(IFC) -. 2021
, , 2019

17
. 35
.
GCC-,
, 2015 28 .
100%- .
.
-
,

.

: 2 2,
.
, ,
,
. ,
.
.
2.5. 2

: ,
: 10 /
: $ 12
: 2017 .

2014 17
-/
- .
- -

18
, , 1-, 2-
( 10 / - - 45,8 .)
. 2 - 2015
, 2017 31 .
- 2014
. 2015 ,
,
2015 1 .

(
)
, , ,
, .

, 2015
23 .
2015 1
.

2- .

2 - 2013 ,
, - 100% .

2012 62.25%
- .., 37,75%
. ,
2010-2013
.

.
3 - (9.4 ),
(2 ) (3.4 ) .

2.6. 2

19
20

: , ,
: 17
: $ 26
: 2018

2009 27
,
, 3 , 2-
. 2 - 17
-.

,
, 30,3
. 2-
12 - . 2010 31 ,
,
2015 1 .

2015 3 ,
, 2-
,
.
, ,
2-
,
. ,
1
3 .

, 2
, .
, .
. , 2009
.

2016 30
, 2016 1
, 2018 30 .

21
 2005 21 .
(3%), (52%), (39%), (2%),
(4%). ,
. "
, ,
.

2010 31 .
, 100% .

2.7. Radisson

5
: 102
:
: $ 30 .
: 2017

.
, ,
.
, .
,
. , ,
. ,
.

2.8.

, -
, ,
.

.
,

22
.
.

. 2015 24 , ,

Humanity Holding GmbH- .

.
Humanity Holding GmbH- "
(Humanity Georgia) .
, Humanity Holding GmbH- " (Humanity
Georgia) .

13
,
- .
,
(Humanity Holding GmbH) ,
. 2015 9 ,
.
, Humanity Holding GmbH-
. 100%-
ProjectH Holding GmbH-,
.
, ,
, .
, ProjectH Holding GmbH - LF Business
DMCC- .
.
.

III.
,

,
( Hyatt Regency,
), .

: Merrydow
Development Holdings LTD ( /
), ( )
( )
. ,

23
 ,
-

. ,
2012-2016 . , , ,

, . ,
, .
,
.

- , :

,
.

; , ,
;
,
, ,
. ,

;

. ,
,
, , ,
,
.
,
. ,
2016 12 ,
.
,
, ,
( )
. ,
, ,
.
,
. ,
,
. ,
,
, ,
, . , ,

24
 , ,

.

25