Ameriabank has officially announced the completion of the share sale transaction and changes in the shareholder structure.
According to the announcement published on the bank's website, 60% of the shares now belong to the owners of Bank of Georgia (Bank of Georgia Group PLC), another 30% to Bank of Georgia, and the remaining 10% are held by the European Bank for Reconstruction and Development.
It is worth noting that, according to the terms of the deal, neither the brand nor the management of Ameriabank will change after the sale. Moreover, Bank of Georgia Group will start working on rebranding, taking into account plans to expand its assets beyond Georgia.
Earlier, the Central Bank of Armenia's Board preliminarily approved the deal to acquire Ameriabank by the Georgian international bank Bank of Georgia, which the parties announced on February 19.
According to the deal, Ameriabank and BOGG PLC (Open Joint Stock Company "Bi-O-Dzhi-Dzhi," hereinafter "Group") - an international financial group registered in the United Kingdom - have reached an agreement for the Bank to join the Group as a full-fledged independent member.
Thus, the Group will become the main shareholder of Ameriabank, while the European Bank for Reconstruction and Development will retain a 10% stake.
