StockMarketWire.com - TBC Bank said it had agreed to acquire a 65% stake in Georgian classified e-commerce group LLC My.ge, which trades under the name My Group, for GEL 19.45m.

The stake acquired by TBC Group was being sold by Lasha Gigitelashvili and Kakha Gigitelashvili, in a partial sell-down of their respective shareholdings.

TBC Group had also entered into put and call option arrangements in respect of the remaining 35% of My Group.

My Group operated in four online marketplace verticals: automotive, automotive spare parts, consumer-to-consumer and housing.

TBC Bank said it was one of the largest classified sites in Georgia, with combined 1.7m unique monthly visitors.




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