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LONDON - Georgia Capital PLC (GCAP) announced Tuesday it has completed the sale of a 20% equity stake in Georgia Global Utilities JSC, receiving full cash proceeds of $70.4 million.
The transaction follows the company’s June 26 announcement that its wholly owned subsidiary, JSC Georgia Capital, had exercised its put option for the stake.
Georgia Capital said the use of proceeds will align with its "360-degree capital management framework" and will be detailed when the company releases its second quarter and first half 2025 results on August 6.
The London-listed investment company focuses on larger-scale investment opportunities in Georgia, targeting businesses with potential to reach at least 300 million Georgian lari in equity value within 3-5 years from initial investment.
Georgia Capital’s current portfolio includes investments in retail pharmacy, insurance, and healthcare services businesses. The company also maintains smaller private investments across various Georgian industries, along with a 19.3% stake in LSE-listed Lion Finance Group PLC, formerly known as Bank of Georgia Group PLC.
The announcement was made in a press release statement authorized by Giorgi Alpaidze, Chief Financial Officer of Georgia Capital.
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