Georgia Capital PLC (GCAP) announced that its wholly owned subsidiary JSC Georgia Capital (JSC GCAP), which owns Georgia Global Utilities JSC (GGU), a holding company for the GCAP group's (Group) water utility business and the operational assets of its renewable energy business, has agreed to initially sell 80 percent of its equity interest in the water-utility business to FCC Aqualia, by way of a two-stage transaction.
In addition, Aqualia has granted JSC GCAP a put option, exercisable in 2025 or 2026, and JSC GCAP has granted Aqualia a call option, exercisable on the date of expiry of the put option in 2026 and expiring six months thereafter, over JSC GCAP’s remaining 20 percent interest in the water-utility business.
Aqualia is a leading water company, with a global presence extending across Europe, America and the MENA region. The disposal is consistent with GCAP’s key stated strategic objective of realizing the value of one of its large portfolio companies thr