PPF thus disposed of a significant majority of its assets in Russia. She was left with PPF Life Insurance and commercial real estate.
“The transaction will be carried out in accordance with applicable legislation, in order to ensure continuity for Home Credit employees and clients in Russia and Kazakhstan,” PPF said in a press release.
The price of the transaction was refused by both groups by mutual agreement.
Ivan Tyryškin is the former CEO of the Moscow RTS, which trades in dollars. In addition, he is also one of the founders of the second largest Russian stock exchange SPB, where he currently heads the board, PPF added.
PPF Financial Group operates in 25 countries in Europe, Asia and North America. It invests in financial services, telecommunications, media, biotechnology, real estate and engineering.
The group includes, for example, the installment company Home Credit, the real estate group PPF Real Estate Holding, Air Bank, the telecommunications companies Cetin and O2, the media company Central European Media Enterprises (CME), the engineering company Škoda Transportation or the toll operator in the Czech Republic CzechToll.