Home Credit sold all assets in Russia and announced its exit from the market
[ad_1]
The group sold the remaining 49.5% stake, “full control” passes to the “investor group”, which previously acquired 50.5% in HCFB. “The result of the entire transaction is the exit of PPF and the Home Credit group from the Russian banking market,” the report says.
The press service clarified that the transaction was carried out in accordance with the requirements of Russian legislation, and on the terms of continuity for employees and clients.
On the acquisition of a 49.5% stake in Home Credit NV LLC “Home Credit and Finance Bank” informed August 26, emphasizing that in this way the credit institution has become completely Russian.
PPF Group in May reportedwhich signed agreements to sell its assets and subsidiaries in Russia to a group of individual investors led by Ivan Tyryshkin, who is one of the founders and chairman of the board of directors of the St. Petersburg Exchange.
At the end of May, as part of the first stage of the transaction, investors you bought 49.5% of the shares in Home Credit Insurance and the microcredit company Buy Don’t Save. As Tyryshkin explained to Interfax at the time, due to the large number of conditions, the deal to sell HCFB assets was “extended”.
In October 2021 Vedomosti reported citing sources that PPF Group is looking for a buyer for his Russian bank Home Credit. The decision was made at the level of the PPF group after the death of its founder, Peter Kellner, who died in March 2021 in a helicopter crash. Vedomosti wrote about the interest in the deal of the Hungarian OTP Group, which in Russia owns a subsidiary of OTP Bank and the microfinance company OTP Finance.
Subscribe on Vedomosti on Telegram and stay up to date with the main economic and business news.
[ad_2]
Source link
