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PPF Group’s statement on the agreement to sell its Russian banking assets
In response to various incomplete media reports, PPF Group confirms that it sold 100% of its banking assets in Russia two weeks ago, including all holdings in Home Credit & Finance Bank (HCFB) and its subsidiaries.
As customary in such transactions, completion pends on the gradual transfer of all ownership titles and the agreed purchase price being paid. Settlement of the transfer of the majority (50.5%) of shares in HCFB to its new owners is expected by the end of June. Completion of the entire transaction is expected in the following months.
