Luxembourg-based holding company AGE has agreed to acquire JSC Terabank and the five-star Biltmore Tbilisi Hotel from Dhabi Group. The purchase price, financing structure and size of the stakes involved have not been disclosed. The transaction remains subject to regulatory approval.
AGE operates within the ecosystem of Arins Group, an Armenia-based financial holding whose activities span banking, insurance and investment funds. The two companies are pursuing the transaction as part of a wider expansion beyond Armenia, with Georgia identified as a priority market. The precise ownership relationship between AGE and Arins Group is not detailed.
A Luxembourg holding in an Armenian financial ecosystem
Arins Group reported net assets of $1.635bn as of 30 June 2026. Its main company, Ardshinbank, described as Armenia’s leading bank, had $7.792bn in assets and $1.072bn in equity at the same date and operates across retail, corporate, SME, private and investment banking. The wider group also includes non-life insurer Armenia Insurance and Arins Capital Fund.
The group already has experience in banking acquisitions, including its purchase of HSBC Armenia in 2024. Its next expansion is now being directed towards neighbouring Georgia. AGE says the country was selected as a priority market because of its economic growth, established macroeconomic policy framework and financial-sector supervision. The company describes Georgia as a logical starting point for the group’s regional expansion from its Armenian base.
Banking and hospitality in the same transaction
The acquisition of Terabank would give AGE a banking presence in Georgia. According to the company, the transaction is intended to strengthen its position in the SME segment, broaden its corporate banking services and support the development of a scalable retail network in the country.
The agreement also covers The Biltmore Tbilisi, a five-star hotel on Rustaveli Avenue in the Georgian capital. The property has over 210 rooms and suites, as well as conference and event facilities serving business and leisure travellers.
The hotel gives the transaction a second dimension outside financial services. AGE describes it as a strategic investment in Georgia’s hospitality and tourism sector and as part of its longer-term commitment to the country.
The announcement does not describe any operational link between Terabank and the hotel. AGE has also not disclosed separate valuations for the two assets, the overall transaction value or an expected closing date. For now, completion depends on regulatory approval.
