BGEO sells 0.7% stake in GHG for £2.9m
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BGEO Group, said it had sold a 0.7% stake in Georgia Healthcare Group (GHG) to former shareholders of JSC ABC Pharmacia, a chain of pharmacies purchased by GHG in January, for £2.9m.
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The 833,160 shares were sold at £3.60 each and are subject to three-year lock-up period. BGEO still holds 64.3% of GHG's issued share capital.
BGEO realized a gain £1.9m which will be recorded through an increase in shareholders' equity in the first quarter of 2017.