Armenian Financial Group Acquires Stake in Georgian Bank and Hotel
The Armenian Arins Group has agreed to acquire Georgia’s Terabank and the five-star Biltmore Tbilisi hotel, marking its expansion into the Georgian financial and hospitality markets.
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Wednesday, 26 August 2026
Regional * On 25 August, Armenian and Azerbaijani officials met in Lachin to discuss electricity trade and the connection of the two countries’ power infrastructure at the state border. * Arins Group, owned by Armenian businessperson Karen Safaryan, is buying Georgia’s Terabank and the Biltmore Hotel in Tbilisi. The deal, for an undisclosed amount, will result in Dubai Group, a major investor from the United Arab Emirates, leaving Georgia. * Russian Foreign Ministry spokesperson Maria Zakhar
By OC Media
Read full article →Armenian businessman targets Georgian banking
Armenian financial group Arins Group, associated with businessman Karen Safaryan, has reached an agreement to acquire Georgia’s Terabank and the five-star Biltmore Tbilisi hotel, expanding its presence into the Georgian market.
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