Kinstellar has advised PPF Group and its shareholders on their agreement with ForteBank for the sale of 100% of Home Credit Bank Kazakhstan and its associated businesses.
The transaction remains contingent on regulatory approvals in Kazakhstan.
According to Kinstellar, Home Credit Bank Kazakhstan, active in the country since 2005, was the fourth market entered by PPF Group’s financial services subsidiary, following its founding in the Czech Republic in 1997. The bank is a well-established player in Kazakhstan’s consumer finance sector and a market leader in point-of-sale lending. The buyer, ForteBank, is a major Kazakhstani financial institution, established in 2015 and listed on the Kazakhstan Stock Exchange.
The Kinstellar team included Bratislava-based Partner Hugh Owen, Vienna-based Associate James Merryweather, and Kazakhstan-based Partner Kuanysh Shekerbekov and Associate Zhandaulet Sholanov.
Kinstellar did not respond to our inquiry on the matter.
