Axactor acquires an unsecured NPL Portfolio in Spain
Madrid, 31st July 2018
Axactor has managed to close with Sareb the purchase of the "Navia" project, an unsecured portfolio with an outstanding balance of approximately EUR 2.3 billion and with close to four thousand cases. This portfolio is by volume the largest acquisition that Axactor has made in Spain, but with a relatively low Capex investment of below EUR 10 million. Including this portfolio, Axactor Spain will manage purchased debt of more than EUR 5 billion in face value.
Axactor continues to grow in the Spanish NPL sector, diversifying investments in all NPLs segments, both secured, unsecured and REOs. This allows Axactor to guarantee management of assets throughout the value chain by combining the purchase of portfolios with the service to third parties, where volumes now exceed EUR 20 billion under management.
David Martín and Andrés López, General Directors of Axactor Spain: "Today we are pleased to announce the purchase of the first unsecured portfolio that Sareb sells in Spain, which is a great milestone for us as we also significantly increase our debt management volume".
For additional information, please contact:
Johnny Tsolis, CFO, Axactor
Mobile phone: +47 913 35 461
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 950 employees.