BGEO Group to demerge bank and investment divisions
BGEO Group announced on Monday that it intended to demerge into a London-listed banking business – Bank of Georgia Group – and a London-listed investment business – BGEO Investments.
The board said it believed a demerger of the businesses would deliver “additional long-term value” to shareholders by creating two distinct entities, each of which would have “enhanced” growth opportunities in the growing Georgian economy.
“Both businesses are already leaders in their respective fields, with separate strategic, capital, and economic characteristics and strong and knowledgeable management teams,” the board said in its statement.
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