Axactor acquires an Auto Loan Portfolio in Spain from major European car manufacturer
Oslo, 16 October 2017 - Axactor has acquired an Auto Loan Portfolio in Spain from one of the major European car manufacturers, the total outstanding balance was close to EURO 100m and there were more than 10.000 claims in the portfolio. The portfolio contains a high level of cases in the legal process and contains a high quality of data and documentation. The acquisition will be closed with a co-investment partner, Plataforma Legal, taking a minority interest along with providing specialist collection services. The combination of Axactor and Plataforma Legal was a key factor in successfully closing this deal.
"Axactor's focus on quality in the Spanish market continues to deliver growth. This portfolio, given its legal status, was a perfect fit for Axactor as well as enabling the relationship with Plataforma Legal, which could potentially lead to further acquisitions in the future. The whole team are very pleased to have been successful in this transaction", says Andrés López and David Martín, General Managers of Axactor Spain.
For additional information, please contact:
Endre Rangnes, CEO Axactor
Mobile phone: +47 4822 1111
Geir Johansen, CFO & Investor Relations, Axactor
Mobile phone: +47 4771 0451
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 888 employees.