Aditya Hadi Pratama · · 1 min readGrab in the running to acquire Home Credit’s assets in SEA, India
Southeast Asian super app Grab, along with Japanese lenders Mitsubishi UFJ, Mizuho, and Sumitomo Mitsui, are among the bidders to acquire Home Credit’s assets in Southeast Asia and India, Bloomberg reported, citing people familiar with the matter.
Home Credit is reportedly seeking between US$2 billion and US$2.5 billion for the assets. While some of the bidders are interested in acquiring all of the company’s businesses, others are only looking to buy its assets in Southeast Asia, according to the source.
Founded in 1997 by Czech entrepreneur Petr Kellner, Home Credit has operations in nine countries across Asia and Europe. It allows users to do online and offline transaction, and pay for it in installments.
The acquisition may strengthen Grab’s financial services segment, which is set to become one of the company’s focuses this year. The super app’s revenue slumped 44% to US$122 million in the fourth quarter of 2021 due to a downturn in its mobility and enterprise and new initiatives segments.
See also: Grab’s financial health in 8 charts
Editing by Miguel Cordon and Lorenzo Kyle Subido
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
