YEREVAN, February 15. /ARKA/. Bank of Georgia confirmed on Thursday that it is in advanced talks with Ameriabank about a potential acquisition of the Armenian bank.
Responding to press speculation, the bank said the potential transaction would be financed with surplus capital, without changing the company’s dividend and capital distribution policy.
“The company will update shareholders as to progress made in relation to the acquisition as and when appropriate,” it said.
“There can be no certainty that a transaction will be signed nor, if signed, concluded.”
Ameriabank confirmed to ARKA news agency that the negotiations were underway.
Ameriabank is a leading financial and technology company in Armenia, a major contributor to the Armenian economy, with assets exceeding AMD 1 trillion.
Bank of Georgia Group PLC is a UK incorporated holding company. The group comprises a retail banking and payments business, and a corporate banking and investment banking business, both operating in Georgia. -0-
