The Antimonopoly Committee has granted permission to the Georgian TBC Bank Group to acquire control over the company Fondy Payments Ltd. The relevant decision was made on April 25.
According to it, TBC Bank Group, through its company TBC International Holdings Limited (UK), obtains the right to purchase shares in the Ukrainian company "Elains" and the Irish Fondy Payments Ltd.
In addition, the Antimonopoly Committee allowed coordinated actions on the part of TBC Bank Group and an individual - a citizen of Ukraine. These actions relate to the implementation of restrictive conditions contained in the shareholder agreement for a period of five years.
TBC Bank is one of the two largest banks in Georgia, accounting for about 40% of the sector's assets. The bank has 13 branches and 32 service centers throughout Georgia. Founded in 1992, it has been operating in Uzbekistan since 2019. Since 2014, the bank's shares have been traded on the London Stock Exchange, and in 2017, they were included in the FTSE 250 index. The bank's capitalization is £1.4 billion.
Fondy is one of the largest e-commerce payment operators in the market, serving about 20,000 merchants and offering a wide range of payment solutions for online and offline businesses.
