Agi Kons, one of the largest construction companies in Albania, is now under foreign ownership. Businessman Gentjan Sula has decided to transfer ownership of the company, which built Kodra e Diellit as well as a number of other major projects in Tirana and the coast, to England.
Official documents show that the transfer of ownership took place in December last year, through a share exchange contract, where the shares of Agi Kons were transferred to a company called UK Development Holding Limited. The latter is a company registered in London in August last year and is 100 percent owned by Gentjan Sula.
Transfer of ownership of Agi Kons to England
Through this move, Gent Sula remains the ultimate owner of Agi Kons, but now controls its shares from England.
In the share exchange contract, the businessman motivates the reorganization of the companies he owns as a move to optimize operations, but also to explore the possibility of expansion in the British market.
But this move comes at a time when the company was under investigation by SPAK for the Veliaj file. Businessman Sula himself is already under a coercive measure from the court with a "compulsory appearance". Three weeks ago, he was informed of the charge of active corruption.
According to SPAK, Mr. Sula has had close ties with Erion Veliaj since the moment when the mayor held the position of Minister of Labor and Social Affairs. This relationship, according to SPAK, has been inseparable and continuous.
The Special Prosecution Office claims that with the election of Veliaj as head of the Municipality of Tirana, 'Agi Kons', owned by Gentian Sula, began and won endless construction permits, as well as public tenders, which, according to SPAK, were returned as a reward to Veliaj in the form of real estate.
It is not known whether the transfer of Agi Kons' ownership to England is related to the SPAK investigations. Theoretically, foreign ownership would give the businessman the opportunity to have arbitration in international courts in the event of the company being seized by Albanian justice authorities.
Agi Kons is one of the largest construction companies in Albania. The company currently has a capital of 1.5 billion lek or 12.6 million pounds, which has been fully owned by the English company UK Development Holding Limited.
Editorial
