YEREVAN, August 26. /ARKA/. AGE S.A. announces that it has signed a legally binding agreement with Dhabi Group to acquire JSC Terabank and The Biltmore Tbilisi hotel in Georgia.
AGE S.A. is a holding company based in Luxembourg, operating within the ecosystem of Arins Group LLC, a leading financial holding company headquartered in Armenia. The Group's subsidiaries provide banking, insurance, and other financial services.
This deal aligns with AGE S.A.'s strategic goal, together with Arins Group LLC, to strengthen its presence in European and international markets, expand the range of services offered, and enhance economic ties.
Georgia was chosen as a priority market for regional expansion due to its stable economic growth, balanced macroeconomic policy, and effective oversight of the financial sector.
The acquisition of JSC Terabank is expected to create significant opportunities for strengthening the bank's position in the small and medium-sized enterprise (SME) segment.
The Biltmore Tbilisi hotel (5*), a landmark building in Tbilisi, reflects AGE S.A.'s long-term commitment to the economic development of the country.
The deal is subject to regulatory approval.
