BRIEF-Bank of Georgia's subsidiary acquires 95 pct equity stake in Deka LLC

miércoles 20 de mayo de 2015 08:52 GYT
 

May 20 (Reuters) - Bank Of Georgia Holdings Plc

* BOG healthcare subsidiary acquires a hospital

* Bank Of Georgia's healthcare subsidiary acquires a hospital in a prime location in Tbilisi

* Acquisition is consistent with company's previously announced strategy to scale up its healthcare business through targeted acquisitions in Tbilisi

* Bank's healthcare subsidiary, has signed binding contract to acquire a 95 pct equity interest, subject to relevant regulatory approvals, in Deka LLC

* Acquisition was financed from proceeds of BGH capital raise in December 2014

* Renovation and development of acquired hospital capacity is expected to take about 12 months

* Renovation and development of hospital to be financed through proceeds from stock exchange listing of GHG planned for later this year Source text for Eikon: Further company coverage: