Russian privately owned Alfa Bank Group agreed to acquire a majority stake in Home Credit Belarus from Home Credit BV and Home Credit International.
The Belarusian central bank and the Ministry of Antimonopoly Administration of Belarus have approved the transaction to buy the nonbanking credit and financial business, which will be finalized in June, Home Credit said June 7. The company did not disclose the financial terms of the transaction.
Home Credit Belarus discontinued its banking activities in 2016 and has since been collecting receivables stemming from its past retail and consumer finance operations.
Alfa Bank Group owns a number of lenders in eastern Europe, including Moscow-based JSC Alfa-Bank and CJSC Alfa-Bank
