Home Credit Philippines ("HC Consumer Finance Philippines, Inc."), a leading consumer lending company, announced its new following the conclusion of its acquisition by Krungsri ("Bank of Ayudhya PCL"), Thailand's fifth largest financial group, and Mitsubishi UFJ Financial Group ("MUFG"), Japan's global financial leader.
The transaction was finalized for EUR 406 million (PHP 24.4 billion). The final consideration is subject to a one-to-one adjustment based on the equity book value at the transaction's closure.
PPF Group, Home Credit Philippines' parent company situated in the Czech Republic, has agreed to buy Home Credit Philippines from MUFG and Krungsri. Krungsri owns 75% of the company, with MUFG owning the remaining 25%.
“We are pleased to announce the handover of Home Credit Philippines to our new shareholders Krungsri and MUFG, both market leaders in the financial industry. Together with our new shareholders, we are opening the next chapter for Home Credit.
The Philippines, building on the high performance that we have set over the past nine years. We are optimistic about our future together,” shared David Minol, Home Credit Philippines’CEO.
