22 September, 2009

People’s Bank of Georgia Announces Change of Control

subsidiary of Liberty Investments Holding B.V. (“Liberty”), purchased a 91.218% equity interest in PBG. 

Liberty is a recently-established investment company focused on the financial services sector primarily in emerging and frontier markets. Its ultimate beneficial shareholders are Dinu Patriciu and Lado Gurgenidze. It invests in markets characterised by general openness of the economy as well as sound fiscal and monetary policy and good corporate governance. The acquisition of the controlling equity interest in PBG is Liberty’s first investment. Liberty is also currently in the process of purchasing a 60% equity interest in Fairwind Securities, a Romanian broker-dealer.