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Axactor SE — M&A Activity 2017
Dec 11, 2017
3549_rns_2017-12-11_e73af1a0-0534-417f-9822-bfcc700066da.pdf
M&A Activity
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Axactor acquires an unsecured non-performing loan (NPL) portfolio in Sweden
Oslo, 11 December 2017 - Axactor Sweden have acquired a fresh unsecured NPL portfolio. The portfolio includes unsecured credit with a total Outstanding Balance (OB) of approximately EUR6 million, across close to 10,000 open accounts of consumer loans and micro-loans. The portfolio allows Axactor Sweden to get invaluable insight into the rapidly expanding micro-finance sector, as well as including the more vanilla consumer loans.
"This acquisition demonstrates Axactor's ability to work with new clients in Sweden and build a well-diversified portfolio. We expect further purchases to follow this one in the coming months.", says Fredrik Kessler, Country Manager Axactor Sweden. The investments will be financed by Axactor's available cash and our existing creditfacilities.
For additional information, please contact:
Endre Rangnes, CEO Axactor
Mobile phone: +47 4822 1111
Email: [email protected]
or
Geir Johansen, CFO & Investor Relations, Axactor
Mobile phone: +47 4771 0451
Email: [email protected]
www.axactor.com
About Axactor
Axactor Group specializes in both Debt Collection and Debt Purchasing across several countries, with operations in Italy, Germany, Norway, Sweden and Spain. The company has a Nordic base and an ambitious Pan-European growth strategy, which targets the market for nonperforming loans (NPL) in Europe. This market is estimated to be about 1,500 billion euros across Europe providing significant opportunities for Axactor's future expansion. Axactor has approximately 900 employees.