Home Credit and GE Money have agreed to cancel a deal on acquisition of the GE Money Slovak representation by Home Credit Slovakia.

5.11.2008 – Home Credit and GE Money have agreed to cancel a deal on acquisition of the GE Money Slovak representation by Home Credit Slovakia. The reason for the cancellation is that the companies did not receive a statement of regulatory bodies on the planned deal within a deadline which would allow the deal to be closed without any technical difficulties. The latest deadline agreed by the companies was October 31st, 2008, mainly with respect to the need to ensure a smooth and secure transition of all transactions and bookkeeping operations of both the companies’ clients to the euro.