Member Article

Leeds home credit firm in proposed acquisition of Estonian finance group

Leeds-based home credit firm International Personal Finance plc has announced its intentions to acquire Estonian firm MCB Finance Group plc.

IPF confirmed that it made a formal approach to the board of MCB in relation to a possible cash offer for the entire issued and to be issued share capital of MCB.

The development of a digital lending proposition is one of IPF’s key strategic priorities.

According to the firm, the proposed acquisition of MCB would enable IPF to use the experience MCB has gained since it began operating in 2006 to accelerate the development of IPF’s digital lending business and it would also expand IPF’s range of new digital products and distribution channels.

In addition, it would increase IPF’s geographical footprint with a proven business model in a manner that is consistent with IPF’s declared strategy.

This was posted in Bdaily's Members' News section by Clare Burnett .