DGKV has advised International Personal Finance Investments Limited, the leading British-based international home credit business provider, on the sale of Provident Financial Bulgaria (Provident) to Easy Asset Management (which operates under the Easy Credit brand). EY Law advised the buyers on the deal.
According to DGKV, "Provident Financial Bulgaria was one of the established market leaders in Bulgaria in terms of size of credit portfolio and number of credit consultants. Thus, Easy Credit shall combine the operations of both companies without staff cuts and shall double its client base."
International Personal Finance Investments Limited entered the Bulgarian market in 2013 as the largest single player in the local non-banking sector. DGKV reports that it "has advised the company on the establishment of its operations, product, and process development, as well as providing ongoing legal advice on all regulatory aspects of its operations."
DGKV’s team on the sale was led by Partner Georgi Tzvetkov and consisted of Senior Associate Krassimir Stephanov and Associates Silviya Apostolova and Kamen Gogov.
The buyers were consulted by Veselin Netsov and Diana Nikolaeva from Ernst & Young Bulgaria.