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Wednesday, April 06, 2005
French financial group BNP Paribas buys Credisson business in a deal of around 40 million euros.
The French group will buy all the shares in the biggest company specialising in consumer finance on the Romanian market through its Cetelem branch, which is ranked as the leading player on the consumer finance market in the euro zone.
The Credisson sale is considered one of the Romanian market's most spectacular transactions.
Credisson was the first consumer finance company to be established in Romania and was set up precisely because of the favourable macroeconomic conditions (the stabilisation of the exchange rate for domestic currency and the falling interest rates) and the growth potential of the market.
Credisson International SRL granted 105 million euros in loans last year, according to certain estimates, with turnover amounting to 12-12.5 million euros.
Posted by Iulia Rasoiu : 4/06/2005 12:36:00 pm
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