Axactor acquires a large unsecured portfolio from "Santander Consumer Finance" in Spain.
Oslo, February 22th, 2018
Axactor has acquired a portfolio with a total outstanding balance of EUR 133 million from "Santander Consumer Finance", one of the largest financial institution in Spain. The portfolio consists of more than 15 000 cases coming from non-performing loans on auto market.
It is the second auto portfolio Axactor Spain purchases in less than six months, and implies a remarkable increase on the expertise and know-how of Axactor Spain Auto management.
"Axactor Spain is delighted to close its first unsecured NPL transaction of the year. The portfolio demonstrated our ability to keep growing the business across all NPL segments and will contribute to strengthen our position as one of the leading collection companies in the Spanish market", say Andrés López and David Martín, country managers of Axactor Spain.
The investments will be financed by Axactor's available cash and our existing credit facilities.
For additional information, please contact:
Endre Rangnes, CEO Axactor
Mobile phone: +47 4822 1111
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 non-performing 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.