Axactor continues to grow within both REOs and NPLs in Spain
Madrid, March 23rd, 2018
Axactor has signed a new portfolio transaction with a large Spanish financial group. The portfolio consists of two different segments, a REO segment and unsecured consumer loans. The total capex is close to 40 mEUR and will be done through the investment companies co-owned with Geveran. The transaction has been executed as a bilateral process. The REOs segment has an appraisal value in excess of 75 mEUR and consists of more than 1.500 assets. The financial institution will retain the 25% of the REO segment. The unsecured segment has an outstanding balance of 147 mEUR and consists of 14.680 cases.
Axactor Spain has acquired thirteen unsecured portfolios and six REO portfolios since 2016. The high number of transactions in less than 2,5 years shows the determination and capability of Axactor for growth in the debt purchase European market.
"The Axactor team in Spain is proud to announce another attractive transaction, clearly demonstrating the determination of the team to develop the business across all NPL segments. The team is also highly focused on increasing the volumes in all segments as well as building the expertise in the Company." say General Management of Spanish Axactor Team.
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.
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