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Axactor SE — M&A Activity 2018
Dec 7, 2018
3549_rns_2018-12-07_6d250366-2453-4000-bd66-23dcd6d220c1.pdf
M&A Activity
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Axactor closes another FF agreement with a large Financial Institution
Oslo, December 7th, 2018
Axactor Sweden, has entered a FF agreement to acquire unsecured consumer claims from a large Financial Institution. The contract will be for 18 months, with a total estimated principal value of 126 mEUR across 7.000 claims. The claims are fresh and will be delivered from March 2019.
Lisa Sohtell, country manager Sweden, commented "This large transaction is the result of well executed teamwork within Axactor. The volumes we will receive, when combined with our existing forward flow agreements, will generate significant growth through 2019 and onwards"
Axactor plans to make this acquisition through their jointly owned SPV with Geveran and will finance the transaction using existing cash and credit facilities.
For additional information, please contact: Johnny Tsolis, CFO, Axactor Mobile phone: +47 913 35 461 Email: [email protected]
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 950 employees.