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. Last Updated: 07/27/2016

Ivanishvili Sells All Russian Assets

Seeking to counter charges that he isRussia's proxy inGeorgia's elections, billionaire BidzinaIvanishvilihas sold his last Russian business asset, his management firm said.

Unikor group in a statement late last week said thatIvanishvili, 56, had sold Stoilenskaya Niva for $180 million to the U.S. Arco International Group and the transaction was expected to be completed within two month.

Ivanishvilitold Reuters in an interview in May he was expecting to get $250-$300 million for Stoilenskaya Niva, or approximately what he had invested.

Earlier this yearIvanishvilisold his real estate development assets to Russian property groupBINfor $982.5 million, his Russian bankRossyisky Creditto a group of private investors for $352 million, as well as a pharmacy chain for approximately $60 million.

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