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Nov 18, 2016 19:41 EEST
November 18 (SeeNews) - Albanian microfinance institution Besa Fund signed a deal for the acquisition of VisionFund Albania, the local unit of VisionFund International, which is part of international non-profit organisation World Vision, the country's competition authority said.
At the beginning of the month, the companies involved in the deal informed the regulator about the transaction, the competition authority said in a statement on Thursday.
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No financial details were disclosed.
The competition authority set a 15-day deadline for the filing of potential complaints over the deal.
The purchaser, Besa Fund, offers micro, small and medium loans to individuals who want to start or extend a business. It has a loan portfolio of 6.65 billion leks ($52 million/49 million euro). Besa Fund says it has disbursed 161,544 loans worth 53.3 billion leks so far.
VisionFund International has an outstanding loan portfolio of $534.9 million. It has subsidiaries in more than 30 countries around the world. In Southeastern Europe it operates also in Bosnia and Herzegovina, Kosovo, Montenegro and Serbia.
(1 euro = 135.833 leks)
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