Abu Dhabi Group buys Georgian bank
United Arab Emirates: Wednesday, March 12 - 2008 at 07:02
The Abu Dhabi Group has purchased Georgia's Standard Bank for $42m, reported Reuters. as it seeks to tap economic growth in the former Soviet state. The Abu Dhabi Group is an investment company owned by a member of the ruling family of the emirate. Bashir Tahir, the group's CEO, said there is also a lot of interest in the former Soviet state from Europe and the US, and some neighbouring countries. He said the group's investment in the Georgian bank is long-term.
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Jeff Florian, Senior ReporterWednesday, March 12 - 2008 at 07:02 UAE local time (GMT+4)
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