Armenia's Arins Group plans to acquire Terabank in Georgia from UAE sheikh
YEREVAN. Aug 25 (Interfax) - The company AGE S.A. has announced the signing of a legally binding agreement with Dhabi Group on the purchase of the Georgian JSC Terabank and Biltmore Tbilisi hotel in the capital, AGE S.A. said in a press release.
AGE S.A. is a holding company based in Luxembourg and operating within the Arins Group LLC ecosystem, a leading financial holding headquartered in Armenia, whose subsidiaries provide banking, insurance and other financial services. Arins Group is the end beneficiary of Armenia's Ardshinbank.
"This deal is in line with the endeavors of AGE S.A. (together with Arins Group LLC) to expand its presence in Europe and internationally, reinforce the range of services offered and deepen economic ties on key markets. Georgia has been chosen as a preferable market for regional expansion based on its strong economic growth trends, tested and balanced macroeconomic policy and reliable supervision of the financial sector. A logical next step for the company is to begin its expansion in the neighboring Georgia," the press release reads.
The acquisition of Terabank is expected to create significant opportunities for reinforcing the bank's standing in the small and medium-sized business segment, expanding the range of corporate banking services and building a scalable retail network in Georgia.
AGE said that the Biltmore Tbilisi five-star hotel was a strategic investment in Georgia's hospitality and tourism sectors.
The deal is subject to approval by regulatory bodies.
The key assets of Arins Group include Ardshinbank, Armenia Insurance and Arins Capital Fund. The group has a wealth of experience in mergers and acquisitions, and acquired the HSBC Armenia bank in 2024.
Established in 2002, Ardshinbank is one of Armenia's top three banks. One of the priority areas of its activity is project financing for large corporate clients, as well as lending to small and medium-sized businesses, electronic banking and international money transfers.
The bank has ratings from the three main international agencies - S&P, Moody's and Fitch. It is the only Armenian issuer to have placed eurobonds on international capital markets. It last placed bonds for a sum of $600 million on January 14, 2026.
Armenia Insurance is a property insurance company which serves over 112,000 clients and is a leader on the Armenian market in terms of net profit and margins.
Arins Capital Fund comprises six sub-funds with different investment strategies.
Dhabi Group is a large private business group from the UAE, founded in 1998 and based in Abu-Dhabi. The group is controlled by UAE minister Sheikh Nahyan bin Mubarak Al Nahyan, who is the primary shareholder and the chairman of the supervisory board of Georgia's Terabank.
Terabank has been active since 1999 and is geared towards small and medium-sized enterprises.
