Grab plans to acquire Home Credit’s business in Southeast Asia, including Vietnam

, Grab plans to acquire Home Credit’s business in Southeast Asia, including Vietnam

Grab’s next round of negotiations to acquire Home Credit’s Southeast Asia and India properties have officially kicked off. Currently, the business segment in Indonesia, Vietnam, and the Philippines is valued at about 2 billion – 2.5 billion USD.

According to a new article published on  Bloomberg, a group of banks from Japan including Mitsubishi UFJ Financial Group, Mizuho Financial Group, and Sumitomo Mitsui Financial Group are on the list of organizations that want to buy assets in Southeast Asia and India. Degree of consumer finance company Home Credit.

Grab Holdings Ltd, the Southeast Asian ride-hailing and delivery giant has also entered the next round of talks to acquire the assets. Currently, the business segment in Indonesia, Vietnam, and the Philippines is valued at about $2 billion – $2.5 billion by Home Credit.

According to Bloomberg‘s source, some investors want to buy the entire investment portfolio of Southeast Asia and India, while others are only interested in Southeast Asia. The source also said that negotiations are still continuing and the deal may still fail.

Home Credit is owned by PPF Group – a group run by the family of the late Czech billionaire Petr Kellner. The group has been in discussions with advisers about selling shares in Southeast Asia and India to raise cash,  Bloomberg News reported.

Meanwhile, Japanese banks have been actively looking to buy assets in Asia in the past few years amid low-interest rates and sluggish economic growth at home. 

As for Grab, the acquisition of Home Credit’s assets can help the group diversify its portfolio and strengthen its financial services business. Last year, Grab increased its stake in Indonesian mobile wallet provider Ovo to around 90% through share acquisitions from PT Tokopedia and Lippo Group.

READ MORE:  Singapore tightening restrictions for travelers from Vietnam

Source: Tri thuc tre

News related