Russian energy company ‘Inter Rao’ has announced plans to consolidate full ownership of Georgia’s electricity distribution company ‘Telasi’ by acquiring all remaining minority shares. The initiative was disclosed through a formal tender offer published in the legislative bulletin and on Telasi’s official website.
‘Inter Rao’ currently controls 75.1% of Telasi via Netherlands-based Silk Road Holdings B.V. The remaining 24.52% stake is held by Georgian company Best Energy Group which operates under CBS Holding. Through the tender offer, ‘Inter Rao’ seeks to increase its holding to 100%, effectively becoming Telasi’s sole shareholder.
Under the terms of the offer, each ‘Telasi’ share is priced at GEL 1.82, valuing the transaction at approximately GEL 51 million for 27,985,461 shares. The valuation was conducted by KPMG Georgia which confirmed that the proposed price is not lower than the highest price paid by the company for Telasi shares during the previous six months.
Shareholders intending to sell their shares must submit a written acceptance to Telasi’s central office no later than March 31, 2026, by 18:00. The company will review submissions and make final decisions between April 1 and April 7, with settlement and completion of purchases scheduled for April 24. ‘Silk Road Holdings B.V.’ has reserved the right to withdraw the tender offer at any stage, both before and after the acceptance deadline.
If the transaction is completed as planned, ‘Inter Rao’ will gain full control over Telasi. The move comes shortly after the conclusion of a prolonged tariff arbitration dispute between ‘Inter Rao’ and the Georgian government. On December 24, 2025, the arbitration ruling went in favor of ‘Inter Rao’, obliging the Georgian state to pay $139 million in compensation.
