GCAP exercises its put option in water utility
Georgia Capital exercises put option to sell 20% stake in water utility for $70.4m.
- Put option price US$70.4m
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Georgia Capital PLC ("GCAP" or the "Company") announces today that its wholly owned subsidiary, JSC Georgia Capital ("JSC GCAP"), has exercised its option to put a 20% equity stake in Georgia Global Utilities JSC ("GGU"). In accordance with the terms of the shareholders' agreement, the majority shareholder, Aqualia Georgia LLC ("Aqualia"), is to pay JSC GCAP a put option price of US$ 70.4 million, determined pursuant to the pre-agreed calculation mechanism. Completion of the transaction and receipt of the cash proceeds are expected by the end of July 2025. The use of proceeds, in line with GCAP's 360-degree capital management framework, will be announced following the receipt of funds.
| S&P Global | 'BB-'/FC & 'BB-'/LC | ||
| Chairman and Chief Executive | Chief Financial Officer | Adviser to the Chairman & CEO | Head of Investor Relations |
| ir@gcap.ge | +995 322 005 000 | +44 203 178 4034 | + 995 322 005 045 |
| ir@gcap.ge | ir@gcap.ge | ir@gcap.ge |
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