Bank of Georgia Group PLC on Thursday said it is in ‘advanced discussions’ regarding its potential acquisition of Ameriabank CJSC.

The Tbilisi, Georgia-based lender said it was responding to ‘recent media speculation’ about a possible deal with Ameriabank, ‘a leading bank in Armenia’. It did not indicate which outlet or outlets were the source of this speculation.

‘[Bank of Georgia] confirms that it is in advanced discussions with Ameriabank and its current shareholders regarding its potential acquisition,’ the company said.

Bank of Georgia intends to finance the acquisition, should it proceed, using its surplus capital. It does not expect this to change its dividend and capital distribution policy.

The FTSE-250 group cautioned, however, that there is no certainty that any transaction will be signed or concluded.

Shares in Bank of Georgia were down 0.5% at 3,850.00 pence in London on Thursday around noon.

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