Bank Of Georgia Gearing Up To Purchase Ukrainian Bank In 2007
13 December 2008
Georgia’s largest bank, the Bank of Georgia (GEB (Georgia): BUY), announced plans yesterday to purchase a mid-sized Ukrainian bank in the spring of 2007. The Bank’s CEO Lado Gurgenidze said that he was currently in talks with three Ukrainian banks. At its IPO in London last month GEB raised just over USD 160 mln. Concorde Capital placed a 9.9% equity stake in the bank for USD 4.5 mln in 2005. See our desk note from April 17 from more details.
