Capitec Completes Acquisition of AvaFin
Deal News | Nov 14, 2024 | CEE Legal Matters
Capitec, a South African digital bank, has acquired AvaFin Holding Limited, an online consumer lending group. The acquisition was advised by Ellex, with a team comprising Senior Partner Filips Klavins and Senior Associate Anna Misneva. Bowmans reportedly also provided legal advice to the acquiring entity. While financial specifics of the transaction remain undisclosed, the deal marks an expansion of Capitec's digital financial offerings. Ellex has announced their involvement but was unable to provide further details on the acquisition.
Sectors
- Banking
- Consumer Lending
- Legal Services
Geography
- South Africa – Capitec, the acquiring company, is based in South Africa.
- International – AvaFin, the target company, is an online consumer lending group, potentially serving international markets.
Industry
- Banking – The article involves Capitec, a South African digital bank, which is expanding its business.
- Consumer Lending – AvaFin Holding Limited is within the online consumer lending industry, relevant to the acquisition.
- Legal Services – The involvement of legal advisory firms Ellex and Bowmans indicates activity within the legal services industry.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Capitec | Acquiring Company | Company | Capitec is a digital bank based in South Africa. |
| AvaFin Holding Limited | Target Company | Company | AvaFin is an online consumer lending group. |
| Ellex | Legal Advisor | Company | Ellex is a law firm that advised Capitec on the acquisition. |
| Filips Klavins | Senior Partner | Person | Senior Partner at Ellex, involved in advising Capitec. |
| Anna Misneva | Senior Associate | Person | Senior Associate at Ellex, involved in advising Capitec. |
| Bowmans | Legal Advisor | Company | Reportedly advised the buyers in the acquisition. |