Heaptalk, Jakarta — Mitsubishi UFJ Financial Group (MUFG) through Bank of Ayudhya Public Company Limited (Krungsri) and Adira Finance has officially taken over ownership of PT Home Credit Indonesia, with an acquisition value of US$217 million, or approximately Rp3.4 trillion.
The President and Chief Executive Officer of Krungsri, Kenichi Yamato, voiced, “Krungsri will continue to collaborate with Home Credit by leveraging our expertise in consumer financing and risk management to expand new business partners, grow the customer base, and deliver innovative products and services that suit the needs of the growing Indonesian market,”
According to the company, this final acquisition consideration is subject to a one-to-one adjustment based on the book equity value at the transaction’s closure. The transaction aims to bolster financing access sustainably devoted to more people in the archipelago while also developing this fintech company based on Krungsri’s expertise as one of Thailand’s finance companies.
In response to this strategic acquisition, Chief Executive Officer of Home Credit, Animesh Narang, revealed the transaction is expected to unlock a significant synergy between Home Credit and MUFG ecosystem, drive the company’s business growth, and facilitate a broader financing access of customers in the country. By extending comprehensive financing services, this strategic agreement aims to create opportunity and empower society to uplift their standard of living.
Founded in 2013, Indonesia’s fintech company has expanded its reach significantly, with an extensive network of over 21,000 retail partners in the archipelago and multiple e-commerce platforms. In providing financing services for goods and cash to its customers, Home Credit offers diverse services, spanning protection, e-wallet, and pay-later preferences.
Based on the openness of information, Head of Corporate Secretary Regulatory of Adira Finance, Andreas Kurniawan, admitted that this transaction is a further action of the share purchase and sale framework agreement on November 24 last year. In this case, Adira Finance company has performed a closing along with the strategic plan to buy a Series A stock of Home Credit Indonesia, representing 9.83% of the stipulated and paid-up capital of the company.
