Today, March 29th, a transaction was finalized with which Inbank AS sold 10% of Coop Pank AS's shares. A 5% share was acquired by current shareholders of Coop Pank and a 5% share by TÜ Eesti Ühistukapital. The parties will not disclose the transaction price.
According to Priit Põldoja, Chairman of Inbank Supervisory Board, the timing of the transaction is perfectly in line with Inbank's international growth strategy and action plan. "Coop Pank is well established and managed, and the role of Inbank in the development of the bank is decreasing over time. The capital earned from the transaction will be invested in Inbank's international growth both in Poland and in new markets. We have made an offer for the current owners of UAB Mokilizingas to purchase a 100% holding in the company. Mokilizingas is a leading consumer financing provider in the Lithuanian market, with a market share of nearly 40% in the field of hire-purchase," Põldoja said.
Inbank acquired its holding in Coop Pank as a financial investment in January 2017. After the transaction, Inbank's stake in Coop Pank is 7.94%.
Additional information:
Priit Põldoja
Inbank AS
Chairman of the Supervisory Board
+372 502 4942
priit.poldoja@inbank.ee