Axactor SE

M&A Activity • Mar 21, 2016

AXACTOR - DETAILED ANNOUNCEMENT REGARDING THE IKAS ACQUISITION

AXACTOR - DETAILED ANNOUNCEMENT REGARDING THE IKAS ACQUISITION

This is an announcement under section 3.4 of the "Continuing

obligations of stock exchange listed companies"/Oslo Børs.

Reference is made to the stock exchange notice of 17 March

2016 concerning Axactor AB (publ) ("Axactor")'s acquisition

of Ikas.

1. The Transaction

Pursuant to the share purchase agreement, Axactor will

acquire 100% of the shares of Ikas Norge AS from the selling

shareholders Gvepseborg AS, Elena AS, Vardfjell AS, Eiker

Holding Invest AS, Paulgaard AS and Hordvik AS. Ikas Norge

AS is the holding company of a group of companies which also

includes Ikas Øst AS, Ikas AS, Ikas Nord AS, Ikas Nordvest

AS and Ikas Vest AS. Pursuant to the SPA, Axactor will

purchase the minority stakes in these subsidiaries which are

not already owned by Ikas Norge AS. The acquisition is

expected to be completed on or around 31 March 2016. The

estimated purchase price is NOK 291 million, subject to

adjustments for changes in cash, debt and working capital at

the date of completion. 70% of the purchase price is to be

paid in cash, and 30% in 49,033,588 shares in Axactor AB.

The consideration shares in Axactor will not be registered

until the approval of a listing prospectus for the new

shares, expected to take place in Q2 2016, and will be

subject to a 24 month lock up period from the date of

completion.

2. Description of Ikas

Ikas Norge AS is one of the fastest growing companies in the

debt collection industry in Norway. The company has for

several years been working on innovation and product

development, and currently delivers market leading and

modern payment solutions for selected industries. The

company was established in 1988 and currently has about 70

employees with offices in five Norwegian cities. Ikas has

over the last five years doubled the turnover to NOK 91

million and with an EBITDA margin of approximately 30% in

3. Key Figures

Key consolidated figures for the Ikas group are presented in

the table below. The financial figures in the table below

are only an extract and must be read in conjunction with the

entire financial statements for the company.

NOK million 2015* 2014 2013

Revenues 91.2 80.8 72.6

Operating profit 25.7 24.0 21.0

Total assets 54.6 53.6 48.9

*unaudited.

Ikas holds no material off balance-sheet items.

4. Board and management

At the date of the SPA, the board of directors of Ikas Norge

AS consisted of Haakon Borgen and Frode Reiersrud.

Key Ikas management include CEO Frode Reiersrud, CMO Ove

Reiersrud and operational manager Thor-Olaf Bekkevold.

4. Strategic effects

The acquisition of IKAS is fully in line with Axactor's

announced strategy to establish credit management operations

in growth markets through acquisitions of well managed

companies positioned for capturing market opportunities. The

acquisition of Ikas provides Axactor with a firm operational

Norwegian foothold for the implementation of its European

strategy.

5. Agreements for the benefit of executive management or

board members in connection with the Transaction

No particular agreements or arrangements in connection with

the Transaction have been entered into that involve senior

employees or board members of Ikas.

* * *

For further information:

Geir Johansen, CFO & Investor Relations, +4747710451

About Axactor:

Axactor is a newly established company in the market for

credit management services. The company has a Nordic base

and an ambitious pan-European growth strategy, which targets

the market for non-performing loans in Europe. This market

is estimated to about 1 500 billion euros, and Axactor's

main focus is debt collection and purchase of NPL

portfolios. As a first step in the pan-European growth

strategy Axactor acquired the company ALD Abogados in

December 2015. ALD Abogados is a leading debt collection

company in Madrid with 120 employees, and has in addition a

call center with 80 employees in Valladolid, Spain.