ESSOX to acquire PSA Finance in the Czech Republic and Slovakia

Press release

Prague, 12 April 2016 – Company ESSOX from the group of Komerční banka is to acquire Czech and Slovak subsidiaries of Banque PSA Finance (BPF) – PSA FINANCE ČESKÁ REPUBLIKA s.r.o. and PSA FINANCE SLOVAKIA, s.r.o. Both companies provide financing for concern cars of PSA brands. Financial services are offered under the brands CITROEN FINANCIAL SERVICES and PEUGEOT FINANCE. The transaction is subject to approval by the Office for Protection of Competition in the Czech Republic, the Anti-Monopoly Office of the Slovak Republic and the National Bank of Slovakia.

By signing of purchase agreement on 11 April 2016, ESSOX from the group of Komerční banka is to acquire 100% stake in PSA FINANCE ČESKÁ REPUBLIKA s.r.o. and PSA FINANCE SLOVAKIA, s.r.o. Both companies provide financing to end-customers and car dealers of the brands Peugeot, Citroën and DS.

"This acquisition is a unique opportunity to bring together the expertise and leadership of ESSOX on car financing with the experience and know-how of PSA Finance teams in the Czech Republic and Slovakia. It will enable us to deliver to all PSA car dealers and end-customers a full range of financing and insurance solutions and build a platform ready for fulfilling our ambition to grow in the field of car financing," said Jana Hanušová, CEO of ESSOX.

ESSOX will provide the future importer of the PSA brands with the full range of financial products and services including consumer financing, financial and operative leasing and insurance.

ESSOX s.r.o. belongs among the leading non-banking providers of financial services in the Czech Republic. It is on the market since 1993 with a strong position on the Czech market of used cars financing. Komerční banka holds 50.93% share in ESSOX, remaining part of 49.07% is in possession of SG Consumer Finance a member of the Société Générale group.