Bank of Ayudhya (Krungsri) announced yesterday the 75% majority stake acquisition of the consumer finance business of Home Credit in Indonesia and the Philippines, with an initial total consideration of €473.9 million (17.7 billion baht).
The final consideration will be subject to one-to-one adjustment based on equity book value at the closing of the transaction.
The transaction is subject to approval from the shareholders of Krungsri, the Bank of Thailand, the Financial Services Authority of Indonesia, the central bank of the Philippines and the Philippines Competition Commission.
