Thailand’s largest bank by market value, SCB X Plc, is reportedly on the brink of securing a deal to acquire the Vietnamese operations of consumer lender, Home Credit. The transaction, which could be worth up to US$900 million, is expected to be announced within the week, say sources familiar with the proceedings who wish to remain anonymous due to the confidential nature of the negotiation.
SCB X Plc, a SET-listed holding company of Siam Commercial Bank, has reportedly outbid competitors to emerge as the leading contender for the purchase. The deal, as per the sources, estimates the value of Home Credit Vietnam between US$800 million and US$900 million. However, the discussions are ongoing and there is no guarantee that the transaction will proceed.
Representatives from PPF Group NV, the owner of Home Credit, and SCB X have so far not responded to requests for comments.
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