UK-Based Fund Buys Georgian Bank

London-based Monte Cristo Capital Limited has purchased a 70% stake in the Georgian bank Tetri, according to the National Bank of Georgia (NBG).

The bank, with total assets of GEL 13.3 million, will be renamed the First British Bank.

The majority of shares in the bank were owned by the Tbilisi aircraft factory TbilAviaMsheni (TAM) and its chief, Pantiko Tordia.

Monte Cristo Capital, according to its website, ?focuses on achieving high absolute returns from investing in emerging markets.?

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