Azerbaijani Holding Fights for Right to Work in Georgian Provider Market

Baku/24.03.21/Turan: The owner of the Georgian company - the Internet provider Caucasus Online Khvicha Makatsaria sold the Azerbaijani Neksol Holding and the remaining 51% stake in the company after Neksol acquired 49% in 2019. The transaction was carried out a few days ago, and as a result, Azerbaijani businessman Nasib Hasanov became the owner of a 100% stake in Caucasus Online. This is reported by the Tbilisi website apsny.ge.

 “On December 15, 2020, the director of Caucasus Online submitted two documents to the special manager appointed by the Communications Commission to obtain consent. According to these documents, agreements were to be concluded between Caucasus Online and the Kazakh company TransTeleCom JSC, as well as between Caucasus Online LLC and the Turkish company SOCAR Turkey Fiber Optik A.Ş JSC. In both documents, Caucasus Online was viewed as a company belonging to the Azerbaijani holding Neksol, in the same documents, Caucasus Online was considered as a mechanism for implementing a regional digital hub project.

“According to these documents, between Caucasus Online LLC and the Turkish company SOCAR Turkey Fiber Optik A.Ş JSC, a precondition for the memorandum being drawn up was a formalized agreement between Azerbaijan and the governments of Kazakhstan on the laying of a fiber-optic cable under the Caspian Sea. The special manager appointed by the Commission on Communications did not sign these documents, ”the Communication Commission said in a statement, reports apsny.ge/

NEQSOL Holding officially declares that the sole and ultimate beneficiary of NEQSOL Holding and the group companies, including Nobel Oil Services (UK) Limited, Nobel Oil E&P (UK) Limited (trade name Nobel Upstream), Bakcell LLC and Norm LLC, is an Azerbaijani businessman Nasib Hasanov.

Nasib Hasanov is known in the business circles of Azerbaijan, as well as in a number of other countries where the holding conducts business activities. Hasanov's information and comments in connection with companies operating in the oil and gas sector are publicly available, as well as in the relevant UK registers, where Nobel Oil Services (UK) Limited and Nobel Oil E&P (UK) Limited are registered, NEQSOL Holding said.

The companies that make up the holding have repeatedly undergone due diligence by international partners and financial institutions, which is a confirmation of the transparent conduct of business in accordance with international standards. In particular, the companies that are part of the oil and gas group as part of NEQSOL Holding, "have successfully established joint ventures with international companies such as KCA Deutag, Wood Group, and others," according to NEQSOL Holding.

"Regarding the joint venture SOCAR AQS, Nobel Oil Services is the main shareholder of this company and owns an 87% stake. The state-owned SOCAR share is 13%. Joint ventures with a minority stake in the state-owned company are common global practice in the oil and gas sector. State-owned SOCAR also has joint ventures with various well-known international and foreign companies, in particular SOCAR KBR, SOCAR Cape, SOCAR Uniper, etc.", they wrote in NEQSOL Holding.

NEQSOL Holding Group of Companies operates in accordance with the highest corporate governance standards. The group is managed by a team of professional managers, and Mr. Hasanov himself has already retired from operational management for about ten years, focusing on strategic issues.

"Nasib Hasanov is known in the business circles of Azerbaijan, as well as in a number of other countries where the holding conducts business. Information and comments of Mr. Hasanov in connection with companies operating in the oil and gas sector are publicly available, as well as in the relevant registers of the UK, where registered Nobel Oil Services (UK) Limited and Nobel Oil E&P (UK) Limited ", says NEQSOL Holding.

Also, NEQSOL Holding said that Hasanov "is not associated with political structures, individual politicians, and has never been in government service." And they added that he "prefers a modest non-public lifestyle," reports tech.liga.net.