AGE S.A. Announces Agreement to Acquire Terabank and The Biltmore Tbilisi Hotel in Georgia

AGE S.A. announces that it has entered into a binding agreement with Dhabi Group, to acquire JSC Terabank and The Biltmore Tbilisi Hotel in Georgia.

AGE S.A., a Luxembourg-based holding company, operates within the ecosystem of Arins Group LLC, a leading financial holding company headquartered in Armenia, with subsidiaries delivering banking, insurance, and other financial services. This transaction aligns with AGE S.A.’s ambition (in association with Arins Group LLC) to expand its presence in Europe and internationally, strengthening its service offerings and deepening economic ties across key markets.

Georgia was selected as a preferred market for regional expansion based on its strong economic growth dynamics, a proven and balanced macroeconomic policy framework, and robust financial sector oversight. It is a logical next step for the Group to start expansion from neighboring Georgia.

The acquisition of JSC Terabank is expected to create significant opportunities to strengthen its position in the SME segment, expand its corporate banking offerings, build a scalable retail franchise in Georgia.

The Biltmore Tbilisi Hotel (5*), a landmark building in Tbilisi, represents a strategic investment in Georgia’s hospitality and tourism sector, reflecting AGE S.A.’s long-term commitment to the country’s economic success.

The transaction remains subject to regulatory approvals.

About AGE S.A and Arins Group LLC

AGE S.A., a Luxembourg-based holding company, operates within the ecosystem of Arins Group LLC. Arins Group through its key companies - Ardshinbank OJSC, Armenia Insurance LLC, and Arins Capital Fund – providing customer-centric comprehensive banking, insurance, and other financial services.

As at 30 June 2026, Arins Group’s net assets are USD 1.635 bln.

The Group’s main company – Ardshinbank (USD 7.792 bln in assets and USD 1.072 bln in equity as at 30 June 2026) is the leading bank in Armenia, offering a diversified range of universal banking services across the retail, corporate, SME, private and investment banking segments.  Ardshinbank is the only non-sovereign entity in Armenia with assigned ratings from three international rating agencies: S&P Global Ratings ((BB- (Stable), Moody’s (Ba3 (Positive) and Fitch (BB- (Positive)), all on the level of the sovereign. Ardshinbank is also the only non-sovereign out of Armenia with a number of Eurobond issuances in international financial markets, with the last USD 600 mln issuance being priced on 14-th January 2026. Ardshinbank has consistently been audited by Big 4 auditors (currently Ernst & Young) and is a trusted partner to reputable international financial institutions, including Citibank and Bank of New York Mellon, for US dollar clearing services and Commerzbank, UniCredit, and Intesa Sanpaolo for Euro clearing services.

Armenia Insurance is a non-life insurance company with more than 112,000 customers and wide network of agents throughout Armenia, being market leader by net profit and profitability.

Arins Capital Fund is a family of six sub funds, with distinct investment guidelines with more than USD 1.017 mln assets under management.

Arins Group benefits from an extended M&A track record, including recent acquisition (in 2024) of HSBC Armenia.