Georgia Healthcare Group PLC (“GHG”) announces that it has completed the acquisition of JSC GPC (“GPC”), one of the largest retail and wholesale pharmacy chains in Georgia. The acquisition has now completed following:
1. The receipt of regulatory approval. On 28 April 2016. This was a condition of the SPA (as defined below) and
2. The completion under the Share Purchase Agreement to acquire a 100% equity stake in GPC (the “SPA”). The SPA was signed following GHG’s announcement on 16 March, 2016, of the signing of a binding Memorandum of Understanding (“MOU”) subject to the relevant regulatory approvals, to acquire a 100% equity stake in GPC. The key terms and conditions of the MOU are unchanged in the SPA.
“Following our recent announcement of the GPC acquisition, I am very pleased to announce completion of this important strategic transaction, which has received very strong support from our shareholders. Having successfully obtained regulatory approval, GPC is now the part of GHG operations and we look forward to delivering the expected synergies, margin enhancement and growth of the business.” commented Nikoloz Gamkrelidze, CEO of Georgia Healthcare Group.