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Liberty Bank gets new majority shareholder

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Liberty Bank gets new majority shareholder

European Financial Group BV acquired a 74.64% equity interest in Georgia-based JSC Liberty Bank, the lender said Oct. 13.

Established under Dutch law, European Financial Group is owned by U.K. citizen Ben Marson and U.S. citizens Irakli Rukhadze and Igor Alexeev, the lender noted, adding that the three businessmen own and manage other major assets in Georgia. Financial details of the transaction were not disclosed.

Liberty Bank, acquired in September 2009 by Liberty Capital and Liberty Holding Georgia, is the third-largest bank in the country by total assets, with a 5.6% market share as of June 30, according to its website.