MUFG and Krungsri to acquire the Philippines and Indonesian operations of Home Credit for €‎615m.

Mitsubishi UFJ Financial Group, financial services company, and Krungsri, a banking services provider, agreed to acquire the Philippines and Indonesian operations of Home Credit, a consumer finance provider, for €‎615m. Krungsri and MUFG Bank to purchase 75% and 25% respectively of Home Credit Philippines for a valuation of €406m. Krungsri, MUFG and a local Indonesian investor to purchase 75%, 10%, and 15%, respectively of Home Credit Indonesia for a valuation of €209m. “Home Credit launched around ten years ago in both the Philippines and Indonesia. It is now the right time for us to pass the baton onto new shareholders who can accelerate growth for these two exciting businesses as they approach this new phase. Both of these markets have played key roles in Home Credit and we will be watching their future with pride and interest," Jean-Pascal Duvieusart, Home Credit CEO.