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    Home Credit and GE Money have agreed to cancel a deal on acquisition of the GE Money Slovak representation by Home Credit Slovakia
    11/05/2008

    Home Credit and GE Money have agreed to cancel a deal on acquisition of the GE Money Slovak representation by Home Credit Slovakia. The reason for the cancellation is that the companies did not receive a statement of regulatory bodies on the planned deal within a deadline which would allow the deal to be closed without any technical difficulties. The latest deadline agreed by the companies was October 31st, 2008, mainly with respect to the need to ensure a smooth and secure transition of all transactions and bookkeeping operations of both the companies’ clients to the euro.

    For Home Credit this step does not represent any limitation or exposure of its existing business activities in Slovakia. We still consider the Slovak market to be very promising and we are ready to keep working on strengthening our market position by expanding distribution channels for our credit products and by entering new market segments.

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