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Czech firm PPF aims to exit China, wants partners for Europe acquisitions

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Reuters UK

PRAGUE (Reuters) – Czech investment group PPF, controlled by the wife of billionaire founder Petr Kellner who died last year, aims to divest its once flagship consumer lending business in China and focus acquisitions on Europe, Chief Executive Jiri Smejc said. PPF, which posted 239 million euro ($251 million) profit last year and had assets of 42.2 billion euros, also wants to find partners for its Home Credit consumer lending operations in southeast Asia to secure cheap and stable funding, he said. “We are trying to find a strategic partner there (in China) who will gain majority and followin…

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