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Axactor SE — M&A Activity 2018
Nov 12, 2018
3549_rns_2018-11-12_3580dbdc-490b-40a9-bf15-bb7ab8d1a8aa.pdf
M&A Activity
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Axactor closes large NPL acquisition with Global Financial Institution
Oslo, November 9th, 2018
Axactor Germany, has acquired a portfolio of unsecured consumer claims from a large Financial Institution. The portfolio contains 18.000 claims, with an outstanding principal value of approximately 80m Eur. The portfolio contains a significant number of existing payment arrangements, which mean the portfolio will have an immediate revenue impact in Axactor Germany.
Doris Pleil, country manager Germany, commented "This portfolio provides an immediate uplift in our current revenue generation and complements our new forward flow arrangements. The expectation is now to add further one-off acquisitions, as well as forward flow agreements, as we move into 2019"
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.