Source - SMW
TBC Bank Group, together with its subsidiary, JSC TBC Bank, has entered into a definitive agreement with Societe Generale to acquire its 93.64% stake in its Georgian subsidiary, JSC Bank Republic, one of the leading universal banks in Georgia, for GEL315 million.

TBC Bank says the transaction represents a key milestone in the consolidation of the Georgian banking sector.  

It says: "The acquisition of Bank Republic, one of the leading banks in Georgia with a Top-5 position across most major metrics and with a focus on the consumer and mortgage lending markets, is highly complementary to TBC's existing operations and provides an opportunity for significant synergies."

At 8:12am:

(LON:TBCG) Tbc Bank Group Plc Ord Gbp5.00 share price was +12.5p at 1112.5p

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