Friday, October 26, 2007, #205 (1472)

Business Roundup
Prepared by Christina Tashkevich

Pedersen & Partners opens offices in Tbilisi, Georgia
Pedersen & Partners, a leading executive search firm in Central and Eastern Europe, announced the opening of its offices in Tbilisi.
Irakli Kilasonia will serve as country manager for Georgia. Kilasonia has over 10 years of operations management experience in retail and insurance industries both in Georgia and the US. He holds a Bachelor’s Degree in Management from the European School of Management in Tbilisi, Georgia. 
“Our clients turn to us to resolve their recruitment needs because we have unprecedented local presence in 29 countries. This gives us regional expertise, excellent knowledge of the market, strong relationships and access to local talent,” Sabit Tapan, Country Manager for Turkey and Head of the Caucasus Region said.

New office for Georgian National Investment Agency
George Arveladze, Minister of Economic Development, has opened a new office for Georgian National Investment Agency on 6 Khetagurovi Street on October 24.
“It’s really a place for foreign investors, where they can obtain full information about Georgia. This office will promote foreign investment here. I am proud to say that there are only 17 countries in the world ranked as easier to do business in than Georgia. It’s a sensational achievement,” Arveladze said.
The Georgian National Investment Agency was founded in 2002. It is the only public office targeted at promotion and encouragement of foreign direct investments in Georgia. As the main local partner for investors, the agency provides interested businesses with information on current the investment climate and opportunities in the country.
The Georgian National Investment Agency website (www.investingeorgia.org) offers detailed information on each sector with specific investment opportunities.

Spain's FCC says its subsidiary best offer for Georgia water company
Fomentos de Construcciones Y Contra SA said its subsidiary company Aqualia has made a the best offer at the tender for Tbilisi Water Company.
FCC spokesman claimed a bid from a Russian company has is not as competitive.
Spanish newspapers reported that the sale of the company is estimated to be worth EUR 2.1 billion.
24 hours newspaper reported that the Spanish company’s bid was the highest, USD 105 million.
The Georgian Ministry of Economic Development shortlisted six bidding companies. French-based Veolia Water, British Biwater Plc’s subsidiary, Cascal; Bond Group; Penta Investments and Multiplex, are competing for Tbilisi Water.

Tetri bank bought by British-based fund
The National Bank of Georgia (NBG) announced that Monte Cristo Capital Limited, a British-based bank, has acquired a 70 percent stake in the Georgian bank Tetri.
Tetri—due to be renamed First British Bank—has total assets of GEL 13.3 million.



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