Iutecredit continues to execute strategic acquisition plans
Acquisition of 59.7% stake in Energbank and gaining operational control
Tallinn, Estonia, 14 February 2022. IuteCredit Europe (“ICE”), a leading European personal finance group, has continued its strategic acquisition plans with the purchase of an additional 49.7% stake in Moldovan Energbank. The total purchase price for 994,645 shares acquired on the stock exchange amounted to EUR 8.3 million. As a result, IuteCredit now owns 59.7% of Energbank shares. Already in January, IuteCredit had acquired on the stock exchange the first stake of 9.976% of shares of Moldovan Energbank, corresponding to 199,519 shares, for a total purchase price of EUR 1.7 million.
With the approval of the acquisition of a qualified stake in the share capital of Energbank by the Central Bank of the Republic of Moldova, IuteCredit is working towards a rapid and orderly transition of the bank’s overall share ownership and operational control. IuteCredit plans to acquire maximum ownership of the bank by purchasing shares at market conditions.
“IuteCredit is moving in the direction of the fastest and most convenient modern fintech bank. After the acquisition, we plan to integrate the bank with the Iute Group, adopt our innovative technological solutions, and make all banking services available on a smartphone,” said Tarmo Sild, Group CEO of IuteCredit.