Bank of Georgia gets green light for Ameriabank acquisition

2nd Apr 2024 07:23

(Sharecast News) - Bank of Georgia announced a milestone in its expansion plans involving the acquisition of Ameriabank on Tuesday.

The FTSE 250 company's shareholders approved the proposed acquisition through an ordinary resolution on 14 March.

Following the shareholder approval, the firm said it had has received regulatory clearance from the National Bank of Georgia.

With that green light, it was now poised to advance towards completion, pending the necessary regulatory approvals in Armenia.

The board and management confirmed on Tuesday that the Armenian Competition Protection Commission and the Central Bank of Armenia has granted unconditional approval.

At 0829 BST, shares in Bank of Georgia Group were up 0.99% at 5,100p.

Reporting by Josh White for Sharecast.com.