The move marks another milestone in Krungsri's goal of Asean expansion, according to the bank's statement.
Krungsri and PT Adira Dinamika Multi Finance, a subsidiary of Bank Danamon, which is a member of MUFG, reached an agreement that Krungsri will buy PT Home Credit Indonesia share capital worth 75%, of which 60% is from Home Credit Indonesia B.V. and 15% from Wanda Ariestiani Evans. PT Adira will buy 10% of PT Home Credit Indonesia from Home Credit Indonesia B.V.
Krungsri also reached an agreement to buy 75% of the shares of HC Consumer Finance Philippines Inc, of which 74.8% are from HC Philippines Holdings B.V. and 0.2% from Filcommerce Holdings Inc. MUFG will buy 25% of HC Consumer Finance Philippines Inc, of which 24.7% is from HC Philippines Holdings B.V. and 0.3% from Filcommerce Holdings Inc. In addition, Krungsri acquires 100% of the share capital of HCPH Financing 1 Inc and HCPH Insurance Brokerage Inc, which are supporting businesses of HC Consumer Finance Philippines.
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