JAKARTA - PT Home Credit Indonesia (HCDI) receives fresh funds of EUR 209 million or equal to IDR 3.4 trillion from divesting shares to a consortium of financing institutions, comprising Mitsubishi UFJ Financial Group (MUFG), Bank of Ayudhya Public Company Limited (Krungsri), and PT Adira Dinamika Multi Finance Tbk (ADMF) or Adira Finance.

Adira Finance, one of new shareholders of HCDI has 9.83% of series A in HCID worth EUR 23.16 million or IDR 363 billion. “The transaction closing is by signing the deed of HCID’s shares transfer on October 2,” said Andreas Kurniawan, Head of Corporate Secretary Regulatory of Adira Finance, in an information disclosure quoted Friday (20/10).

According to Kurniawan, the completion of HCID’s minority shares acquisition follows up the shares sale and purchase agreement signed on November 24, 2022. In order to conclude that transaction according to preliminary terms of the agreement, there will be changes made to the structure and number of shares acquired by the company.

Animesh Narang, Chief Executive Officer (CEO) of HCDI, said that this transaction is expected to initiate significant synergy within the ecosystem of Home Credit and MUFG, reinforce the business, and expand financing facilities to wider consumers. (LK/ZH)