Walalangi & Partners (in association with Nishimura & Asahi) advised MUFG, one of the world’s leading financial groups with over 360 years of history, in total approximately EUR 596 million or USD 620 million acquisition of 100% shares of HC Consumer Finance Philippines, Inc and 85.0% shares of PT Home Credit Indonesia, subsidiaries of Home Credit B.V. The acquisition is done through MUFG Bank and its consolidated subsidiaries Bank of Ayudhya Public Company Limited Thailand or also known as Krungsri and PT. Adira Dinamika Multi Finance. This acquisition represents a continued reinforcement and expansion of MUFG’s retail business in both countries, following the previous successful acquisition of and consolidated subsidiary PT Bank Danamon Indonesia Tbk.
MUFG aims to strengthen their business in Southeast Asia through the establishment of business platforms in the region in collaboration with partner banks.
Coming from the Czech Republic, and headquartered in the Netherlands, HC is a consumer finance company engaged in consumer lending, primarily in POS loans. HC Philippines and HC Indonesia come with high brand recognition and customer satisfaction; particularly in POS loans; where their app has been downloaded 20 million times and with cumulative total of 13 million loan customers.
The team is led by Luky Walalangi and Miriam Andreta, both partners of the firm, with full support of Siti Kemala Nuraida, a senior associate, as well as Sinta Dwi Cestakarani, Indira Setyowati, Rio Armando Girsang, all associates of the firm. The team closely works together with Nishimura & Asahi team led by Mr. Yusuke Yoshimoto, partner in charge for all Japanese law matters.