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2024
Sovcombank Insurance bought Home Credit Insurance
In August 2024, the process of joining Home Credit Insurance LLC to Sovcombank Insurance JSC began. This transaction is part of a larger integration of assets related to the acquisition of Home Bank by Sovcombank.
According to Frank Media, the record of the beginning of the reorganization was entered into the Unified State Register of Legal Entities on August 8, 2024. After completion of the procedure, Sovcombank Insurance will become the full successor to all obligations of Home Credit Insurance.
All obligations under insurance policies and contracts concluded with Home Credit Insurance remain in force and will be fulfilled on the same terms. Customers will not need to re-issue any documents.
The deal to acquire Home Bank by Sovcombank was announced in February 2024. Sovcombank Managing Director Andrei Osnos announced plans to complete the merger in the first half of 2025. As part of the transaction, Sovcombank has already paid 10% to Home Bank shareholders in cash, the remaining 90% is planned to be paid by its own shares in 2025.
Earlier, the structure of the Czech group Home Credit left the capital of Home Credit Insurance. 49.5% of the company, previously owned by the Czech group, was received by citizen Georgia Avigdor Yardeni. The deal was part of the Czech group's exit process from Russian financial assets that began in the summer of 2022.
PPF Group, which includes Home Credit, previously reported the sale of controlling shares in Russian divisions for ₽26,4 billion. The second part of the transaction provided for the sale of the remaining shares for ₽16,4 billion.
At the end of July 2024, the main owner of HKF Bank with a 99.98% stake is Home Capital, the founders of which are not disclosed. It received 49.5% of HKF Bank in January 2023.[1]
Georgian entrepreneur Avigdor Yardeni became the owner of 49.5% of Home Credit Insurance
On June 25, 2024, it became known that the structure of the Czech group Home Credit withdrew from the capital of the Russian company Home Credit Insurance. As part of the transaction, a 49.5% share was transferred to citizen Georgia Avigdor Yardeni. The remaining 50.5% in the authorized capital of Home Credit Insurance continues to be held by LLC. Home Credit and Finance Bank (HKF Bank)
As noted by Interfax, Yardeni participated in the process of withdrawing Home Credit from Russian financial assets. In particular, in the summer of 2022, the group lost control (reduced its shares to 49.5%) in HKF Bank (operates under the Home Bank brand), Home Credit Insurance and the microcredit company Buy Not Dig, transferring 1% of shares in these enterprises to Yardeni.
It is known that Home Credit Insurance is included in the perimeter of the transaction for the purchase by Sovcombank of HKF Bank. As of mid-2024, the main owner of HKF Bank with a 99.98% stake is Home Capital, whose ownership structure has not been disclosed.
According to Inventa, Yardeni started the business as a supplier of building materials for commercial and heavy industrial real estate. Further diversified into real estate, agriculture, wholesale, logistics and financial technology. In December 2022, it was reported that the Czech investment company PPF Real Estate sold the Comcity business park with an area of 185 thousand square meters on the Kyiv highway in new Moscow to Yardeni structures. And in August 2023, it was reported that Ukraine wants to nationalize the Motordetal-Konotop LLC plant, which was allegedly owned by ex-Russian Senator Sergei Kalashnik. It was said that the founder of the enterprise "is the Cypriot Lepedan Investments Limited, the ultimate beneficiary is a citizen of Georgia Avigdor Yardeni."[2]
2022: PPF sells 49.5% of the company's shares to a group of investors led by Ivan Tyryshkin
In May 2022, the Czech PPF which owns the Home Credit credit institution, sold 49.5% of the shares in Home Credit Insurance and the microcredit company Buy Not Dig Russia in a group of investors led by. Ivan Tyryshkin Tyryshkin also bought the company from one of the structures of the Home Credit group. "Forward leasing
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