Deloitte Romania advised OLX Group in the acquisition of Kiwi Finance, the largest loan broker in Romania, from the Swedish investment fund Oresa. The agreement has been approved by the Competition Council. Following the takeover, OLX Group becomes the sole shareholder of Kiwi Finance and expands its portfolio, which includes OLX.ro, Storia.ro and Autovit.ro, in the financial services segment. Kiwi Finance will continue to focus on the geographic expansion, developing its financial partners network, on operations efficiency, as well as on providing services through digital channels.
Deloitte Romania provided assistance to OLX Group in the financial and fiscal due diligence process. The financial advisory team was made of Radu Dumitrescu, Partner-in-Charge, Marius Vasilescu, Director, Bogdan Mazilu, Deputy Director, Vlad Balan, Deputy Director, and Vlad Bucur, Senior Associate, and the tax team consisted of Dan Badin, Partner, and Ioana Nastase, Senior Manager.
“We are very pleased with the collaboration with Deloitte Romania, which has a vast experience in mergers and acquisitions, and I would like to thank the team for the professionalism and the support they have provided in this transaction. The team has shown flexibility and diligence during the entire project,” said Dumitru Turcanu, CFO Real Estate - Europe, OLX Group, OLX Group.
“In this project, we relied on Deloitte’s local resources, which consisted of a dedicated multidisciplinary team located in Bucharest which worked closely with the client, as well as on the resources of our global network, through the collaboration with our colleagues in Deloitte Netherlands. This transaction highlights the focus of players in all industries on increasingly diverse digital channels, which can help them improve services or even identify new business opportunities,” said Radu Dumitrescu, Financial Advisory Partner-in-Charge, Deloitte Romania.
Founded in 2003 by Anca Bidian and taken over in 2007 by the investment fund Oresa, the loan broker Kiwi Finance has intermediated loans of over 1.35 billion euros along its 17 years of existence. Now, the company is active in 35 cities and collaborates with over 200 brokers. Its management will continue to be ensured by Anca Bidian, as CEO.
With a team of 50 experts, Deloitte is one of the leading players in Romania in financial advisory and provides services to both local and multinational clients active in the private and the public sector. In 2020, Deloitte Romania’s Financial Advisory team was involved in over 100 complex projects through all its service lines.