A DLA Piper Tbilisi team, led by partner Avto Svanidze and legal director Nino Suknidze, including Nelly Nadirashvili, Irakli Pipia and Natela Otaridze, successfully advised TBC Bank, now the largest bank in Georgia by loans and deposits, on acquisition of the Georgian subsidiary of Societe Generale

S.A. – JSC Bank Republic for GEL 315 million (£103 million) – and selected assets and liabilities of JSC Progress Bank. DLA Piper Georgia’s work included due diligence on the target banks, regulatory advice and drafting of and advising on Georgian law transaction documentation.

Completion of the acquisition of JSC Bank Republic was announced on 20 October 2016. As a result of the transaction and also the acquisition of a minority stake in the bank from EBRD, TBC Bank Group PLC together with its subsidiary JSC TBC Bank became the owner of 100% of JSC Bank Republic’s issued share capital.

The DLA Piper Tbilisi team acted as Georgian counsel to ‎JSC TBC Bank in its first IPO and listing of its shares in the form of GDRs on the London Stock Exchange and subsequently handled advice in relation to the bank’s reorganization and admission of shares of its holding company, TBC Bank Group PLC, to the premium listing segment of the UKLA official list and to trading on the London Stock Exchange’s main market for listed securities.

DLA Piper Tbilisi is proud to have been part of the advising team and congratulates TBC Bank on the completion of important transactions.