Bank of Georgia in talks over potential acquisition of Ameriabank

Bank of Georgia confirmed on Thursday that it is in advanced talks with Ameriabank about a potential acquisition of the Armenian bank.

Responding to press speculation, the bank said the potential transaction would be financed with surplus capital, without changing the company's dividend and capital distribution policy.

"The company will update shareholders as to progress made in relation to the acquisition as and when appropriate," it said. "There can be no certainty that a transaction will be signed nor, if signed, concluded."