Gilan Holding LLC

Gilan Holding LLC is a major Azerbaijani conglomerate operating in construction, tourism, agriculture, logistics, consumer goods, sports clubs, and stadiums.[684] The conglomerate owns Gabala FC,[685] a football club in Azerbaijan’s mountainous north.[998]

Founded in 2005,[517] Gilan Holding was believed to be closely linked to Azerbaijan’s emergency situations minister, Kamaladdin Heydarov.[686] However, investigations found evidence that Leyla and Arzu Aliyeva held a controlling stake.[665] In 2013, the conglomerate was owned by two Dubai registered entities: Sahra FZCO (51%) and Shams Al Sahra FZCO (49%).[665] As of March 2023, Sahra FZCO is beneficially owned by Leyla and Arzu Aliyeva.[5] Shams Al Sahra FZCO was beneficially owned by Tale and Nijat Heydarov, the sons of Kamaladdin Heydarov, until 2021.[8] Tale Heydarov remains the owner as of 2023.[8] Gilan Holding does not publish the value of its assets, but in 2014 it was estimated to be worth “at least several billion dollars.”[687]

In mid-2023, the company was renamed Khazri Solutions LLC and placed into voluntary liquidation.[1010] [1011] [1012] [1013] Around the same time, several Azerbaijani companies owned by the Heydarov family were placed into liquidation and merged with companies in the PASHA Holding group, owned by Leyla and Arzu Aliyeva since 2013.[1013] [1337] [1336] [1112] [1270] [341]