Georgia Capital completes utilities majority disposal
The Georgia Capital PLC (GCAP) has announced the US$180 million acquisition of a water utility Georgia Global Utilities JSC (GGU) by water management company FCC Aqualia and the proposed demerger by GGU of its renewable energy business to JSC Georgia Capital (JSC GCAP).
As a result of the demerger, GCAP JSC owns 100% of the renewable energy assets formerly owned by GGU and a 20% stake in GGU, which is dependent on the ongoing put/call option structure. The demerger was based on 2 conditions such as obtaining antitrust clearance and the redemption of GGU's US$250 million 7.750% Eurobond due 2025. JSC GCAP provided a shareholder loan in the amount of US$90 million, which was used to buy back Eurobonds.
The relationship between FCC Aqualia, GCAP SA and GGU will be governed by a shareholder agreement that governs their respective rights and obligations as co-owners of GGU.
Country updates
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September 23, 2020
EIB to finance EUR 12.6 billion in infra projects across Europe
The European Investment Bank (EIB) approved EUR 12.6 billion (US$ 14.91 billion) of new financing for projects across Europe and around the world. New financing agreed includes more than EUR 3.1 bill...
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June 11, 2020
RFEOI launched seeking legal consultant for market study in ECA region
The World Bank Group has issued a request for expression of interest (RFEOI) seeking a legal consultant for a market study of city Utilities in the water, MSW, and district heating Sectors in the ECA...
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August 26, 2019
American Conti Group leaves Anaklia Development Consortium
American Conti Group (Conti International LLC) has left the Anaklia Development Consortium. Anaklia development consortium was responsible for the development of New Deep Water Sea Port at Anakli...
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June 30, 2017
The Anaklia Development Consortium has completed all feasibility works and is continuing to work on the EIA report, which has been distributed for public review and discussion
The Anaklia Development Consortium has completed all feasibility works and is continuing to work on the EIA report, which has been distributed for public review and discussion. The preliminary design for phase 1 was submitted to the Georgian Government
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June 28, 2017
Anaklia Development Consortium appointed SSA Marine as the terminal operator for the project
