Home Credit to sell PH, Indonesia units to Japan’s MUFG for $621m

Home Credit to sell PH, Indonesia units to Japan’s MUFG for $621m

FILE PHOTO: The logo of Czech consumer finance company Home Credit is seen on a building in Liberec, Czech Republic October 15, 2017. REUTERS/David W Cerny/File Photo

Dutch consumer lender Home Credit announced that it has agreed to sell its Philippine and Indonesian businesses to a consortium composed of affiliates of Japan’s Mitsubishi UFJ Financial Group (MUFG) for 596 million euros (about $621 million).

In a statement on Thursday, Home Credit said the deals, which are expected to be completed within 2023, will be made through MUFG’s affiliates and will be led by Thailand’s Krungsri Bank.

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