Société Générale , the French financial organisation , has agreed to sell its 93.64 % stake in Bank Republic to TBC Bank for a sum of approximately € 121 m ( $ 150 m ) . 70 % of the sum will be paid in cash , with 30 % paid in TBC Bank Group shares . Société Bank will retain a minor stake in the capital of the firm , and the deal should be completed by the end of 2018 . Bank Republic is currently Société Générale ’s Georgian subsidiary , with TBC Bank being the second largest banking group in the region . The transaction, pending to regulatory approvals, is expected to close by the end of the year. Société Générale ’s 31 million clients will remain largely unaffected .
Société Générale , the French financial organisation , has agreed to sell its 93.64 % stake in Bank Republic to TBC Bank for a sum of approximately € 121 m ( $ 150 m ) . 70 % of the sum will be paid in cash , with 30 % paid in TBC Bank Group shares . Société Bank will retain a minor stake in the capital of the firm , and the deal should be completed by the end of 2018 . Bank Republic is currently Société Générale ’s Georgian subsidiary , with TBC Bank being the second largest banking group in the region . Société Générale ’s 31 million clients will remain largely unaffected .