The Luxembourg holding company AGE S.A., operating within the ecosystem of Arins Group LLC, has announced a binding agreement with Dhabi Group for the acquisition of JSC Terabank and The Biltmore Tbilisi hotel in Georgia.
According to a statement from AGE S.A. provided to ArmInfo, the deal is subject to approval by regulatory authorities. This transaction aligns with AGE S.A.'s (in partnership with Arins Group LLC) goal to expand its presence in Europe and internationally, enhance the range of services offered, and deepen economic ties in key markets.
Georgia was chosen as a priority market for regional expansion due to its high economic growth dynamics, proven and balanced macroeconomic policy, and effective oversight of the financial sector.
It is quite natural for the Group to begin its international expansion with the neighboring Georgia. The acquisition of JSC Terabank is expected to create significant opportunities to strengthen positions in the small and medium-sized enterprise (SME) segment, expand offerings in corporate banking, and build a scalable retail franchise in Georgia.
The five-star hotel The Biltmore Tbilisi, a landmark building in Tbilisi, represents a strategic investment in Georgia's hospitality and tourism sector.
