Axactor SE

M&A Activity • Mar 17, 2016

Axactor has signed an agreement to acquire EUR 221 million Non Performing Loan (NPL) portfolio in Spain

Axactor has signed an agreement to acquire EUR 221 million Non Performing Loan (NPL) portfolio in Spain

Oslo, 17. Mars 2016 - Axactor has signed an agreement to

acquire a NPL portfolio originally generated by a large

Spanish consumer finance institution. The portfolio includes

unsecured and secured loans with a total Outstanding Balance

(OB) of approximately EUR 221 million, with more than

twenty-five thousand open accounts of individuals and a

solid paying book.

Axactor will pay around 6.9% of the Outstanding Balance.

"This is Axactor's 3rd major portfolio acquisition in Spain

in less than 50 days, and is an evidence of our

competitiveness and strong position in this market. The

portfolio will add significant new volumes to our amicable

and legal operations in Spain. Axactor's Madrid based

Spanish business has more than doubled since November 2015 -

our Spanish operations is now more than 200 employees. This

proves that our business model and strategy is on the right

track; acquiring strong local operational platforms with

growth potential and providing international industry

experience and financial strength", says Endre Rangnes, CEO

of Axactor.

"We are now positioning Axactor to gain more business in

Spain and other countries in Europe. Our substantial

industry insight, proven track record and market offer makes

Axactor an attractive partner to major European banks,

financial institutions and funds", says Rangnes.

"With this deal, Axactor has acquired NPL portfolios in

Spain with a Face Value of approximately EUR 730 million and

we have deployed more than EUR 30 million in portfolio

acquisitions", says Geir Johansen, CFO of Axactor.

The investments will be financed by Axactor's available cash

and the credit facilities with DNB.

For additional information, please contact:

Geir Johansen, CFO & Investor Relations, Axactor

Mobile phone: +4747710451

Email: geir.johansen@axactor.com

www.axactor.com

Axactor is a newly established company within the credit

management service industry - with a Nordic base, and with

an ambitious Pan-European growth strategy. The company is

addressing a large non-performing loan (NPL) market in

Europe, estimated to around EUR 1.5 trillion, and the main

focus in the credit management value chain is: reminder

services, amicable and legal collection, surveillance and

acquisition of NPLs.

As a first step in the Pan-European growth strategy Axactor

acquired in November/December 2015 the company ALD Abogados,

a leading legal debt collection agency in Madrid with 90

employees. In addition, an amicable high volume collection

center with 110 employees has been established in

Valladolid, Spain .