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BGEO Became 100% Stockholder of the Company GGU

BGEO Became 100% Stockholder of the Company GGU

BGEO Group has purchased 75% of Georrgian Global Utilities. As a result, it became 100% share holder of the company.

According to the published information by the company, the transaction value made up 287 million GEL. GGU is the owner of “GWP“.

“BGEO Group purchased 25% of the company’s share in 2014 at a price of 47 million GEL. Later, after 10 months period it planned to purchase the rest of the shares. However, due to the Georgian domesic currency (GEL) devaluation, it has postpon ed its plans.

Thus, finally BGEO managed to purchase the rest of the shares and now it became the owner the company GGU.