Home Credit B.V.: Home Credit Group and PAG sign Strategic Partnership Agreement for cooperation in China
Tuesday, July 18, 2017
(Press Release) – Home Credit B.V. (‘HCBV’ or ‘the Group’), the Netherlands-based holding company for Home Credit’s leading multi-channel consumer finance operations in CEE, Asia and the US, announces that it has signed a Strategic Partnership Agreement with PAG Asia Capital (‘PAG’) with the aim of supporting the long-term development of Home Credit’s business, especially in China, where it is a leading consumer finance lender.
PAG, one of Asia’s largest private equity firms, intends to invest over RMB 2 billion (~EUR 278 million) into a Hong-Kong based subsidiary of Home Credit B.V. with an intention to become a value-added minority shareholder of the Group’s operations in China within three to five years following the investment, upon fulfilment of regulatory and contractual conditions.
