Home Credit to acquire GE Money in Slovakia - Agreement positions business for next stage of strategic growth
Commenting on the agreement Dmitri Stockton, President and CEO of GE Money in Central and Eastern Europe said, “The CEE region continues to be one of the major areas of growth and investment for GE Money. We are selling the business in Slovakia, because we see higher value opportunities elsewhere for deploying our capital and focusing our efforts. We believe this agreement is in the best interests of GE Money, our individual businesses and GE’s shareholders, and allows us to optimize our portfolio for continued growth and investment, while meeting one of GE’s strategic objectives of redeploying capital in high growth markets,” he added.
Alex Labak, CEO, Home Credit Group welcomed the deal stating: “Acquisition of GE Money’s Slovak business is a good opportunity to build on its existing presence in the market. In particular, GE Money Slovakia’s auto finance franchise and branch network strongly supplement Home Credit’s product strategy for our Slovak customers. The deal sets up great prospects for the success of our combined businesses based on product synergies, client-oriented culture, strong commitment to sales and infrastructure already developed and implemented by Home Credit.”
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