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(Alliance News) - Georgia Capital PLC on Wednesday announced the launch of a new campus and purchase of a school in a move that sees the London-based investor look to expand its affordable education business.
A new campus at the Green School in Tbilisi, Georgia will be opened with the potential to hold up to 2,000 students.
In a separate investment project, Georgia Capital has bought an 81% interest in Georgian-Austrian School Pesvebi. The Tbilisi-based school has a capacity of 1,200 and is one of the largest private schools in Georgia.
Back in November, the company outlined plans to expand its affordable education business, with the two investments combined growing capacity to 5,300 students from 3,500 previously.
"I am delighted to announce these exciting projects in Georgia Capital's education business. With the acquisition of Georgian-Austrian School Pesvebi and the expansion of Green School, we are further expanding into the affordable segment of private K-12 education, where we see attractive opportunities for a scaled player," commented Chief Executive & Chair Irakli Gilauri.
Shares were trading up 0.6% at 625.00 pence each in London on Wednesday morning.
By Will Paige; willpaige@alliancenews.com
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