Georgia Healthcare Group PLC (LSE:GHG) agreed to acquire ABC Pharmacia LTD from Enriko Beridze, Mikheil Abramidze and others for GEL 65.1 million in cash on November 21, 2016. The consideration comprises, cash of GEL 29.9 million ($12 million) on completion and the balance in five yearly payments. As per the agreement Enriko Beridze and Mikheil Abramidze will be obligated to use 33% of the cash proceeds to purchase Georgia Healthcare Group PLC shares on the market. During the twelve months starting from January 1, 2023, Georgia Healthcare Group PLC and the Managing Shareholders will have call and put options, respectively, on the remaining 33% minority stake in the combined pharma business. Upon completion of the transaction Georgia Healthcare Group PLC will merge ABC Pharmacia LTD with its existing pharma business, GPC, and the name of the merged company will be JSC Georgian Pharmacy and Georgia Healthcare Group PLC will own a 67% equity stake in the combined pharmaceutical business and the remaining 33% minority stake will be owned by ABC Pharmacia LTD's existing main shareholders Enriko Beridze and Mikheil Abramidze. Enrico Beridze, the Chief Executive Officer of ABC Pharmacia LTD will lead the combined pharma business. Mikheil Abramidze, Chief Operating Officer of ABC Pharmacia LTD will take charge of the operations of JSC Georgian Pharmacy. George Arveladze, the Deputy Chief Executive Officer of Georgia Healthcare Group PLC will be the chairman of JSC Georgian Pharmacy. David Kiladze, currently the Chief Executive Officer of GPC, will become the advisor to the Group Chief Executive Officer regarding pharma business. For the year ended December 31, 2015 ABC Pharmacia LTD had revenue of approximately GEL 180 million, EBITDA of GEL 11.1 million, net profit after tax of GEL 3.4 million, total assets of GEL 60 million, Net debt of GEL 2.9 million and equity of GEL 30.9 million. The completion of the transaction is subject to competition agency approval and is expected to close in January 2017. The currency conversion has been done using www.oanda.com. Georgia Healthcare Group PLC (LSE:GHG) completed the acquisition of ABC Pharmacia LTD from Enriko Beridze, Mikheil Abramidze and others on January 6, 2017. Regulatory approval for the deal is received.