Business
GCAP exercises its put option in water utility
GCAP exercises its put option in water utility.
About this update from Georgia Capital Plc
[{"type":"text","content":"\n\nLondon, 26 June 2025\n \n \nGeorgia Capital exercises its option to put a 20% stake in the water utility business\nGeorgia Capital PLC (\"GCAP\" or the \"Company\") announces today that its wholly owned subsidiary, JSC Georgia Capital (\"JSC GCAP\"), has exercised its option to put a 20% equity stake in Georgia Global Utilities JSC (\"GGU\"). In accordance with the terms of the shareholders' agreement, the majority shareholder, Aqualia Georgia LLC (\"Aqualia\"), is to pay JSC GCAP a put option price of US$ 70.4 million, determined pursuant to the pre-agreed calculation mechanism. Completion of the transaction and receipt of the cash proceeds are expected by the end of July 2025. The use of proceeds, in line with GCAP's 360-degree capital management framework, will be announced following the receipt of funds.\n \n \n \n \nName of authorised official of issuer responsible for making notification: Giorgi Alpaidze, Chief Financial Officer\nAbout Georgia Capital PLC\nGeorgia Capital (LEI: 213800Q65T5GNBOW7H65) is a platform for buying, building and developing businesses in Georgia with holdings in sectors that are expected to benefit from the continued growth and further diversification of the Georgian economy. The Company's focus is typically on larger-scale investment opportunities in Georgia, which have the potential to reach at least GEL 300 million equity value over 3-5 years from the initial investment and to monetise them through exits, as investments mature. Georgia Capital currently has the following portfolio businesses: (i) a retail (pharmacy) business, (ii) an insurance business (P&C and medical insurance), and (iii) a healthcare services business. Georgia Capital also holds other small private businesses across different industries in Georgia; a 20% equity stake in the water utility business and a 19.3% equity stake (as at 31-Mar-25) in LSE listed Lion Finance Group PLC (\"Lion Finance Group\" or the \"Bank\"), formerly known as \"Bank of Georgia Group PLC\", the holding company of leading universal banks in Georgia and Armenia.\n\n\n\n\nJSC Georgia Capital has, as of the date hereof, the following credit rating:\n\n\n\n\n\n\n\n\n\n\n\n\nS&P Global\n\n\n'BB-'/FC & 'BB-'/LC\n\n\n\n\n For further information, please visit www.georgiacapital.ge or contact:\n \n\n\n\n\n...