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Home credit provider International Personal Finance plc Friday said it has reached a deal to acquire UK-based consumer finance company MCB Finance Group PLC in a deal valuing MCB Finance at around 23.8 million pounds.
Britain's IPF buying owner of Credit24 for GBP 23.8 mln
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MCB provides online short and medium-term loans to customers in Finland, Estonia, Latvia, Lithuania and Australia under the Credit24 brand. MCB Finance Group plc is quoted on the AIM market of the London Stock Exchange. MCB Finance Group plc is incorporated in the UK and its main countries of operation are in the Baltic region, specifically Finland, Estonia, Lithuania and Latvia.
IPF is active in the markets of Poland, the Czech Republic, Slovakia, Hungary, Mexico, Romania, Lithuania and Bulgaria and intends to expand into Spain next year.