Axactor Group acquires three further portfolios in Italy
Oslo, 22 December 2017 - Axactor Italy has acquired two mixed portfolios and a small leasing portfolio in Italy. One of the mixed portfolios includes an element of secured cases, which is being used as a test case for building internal competence in another important NPL segment. These portfolios combined have an outstanding balance of just over EUR 80m across approximately 750 cases, with 20% relating to cases which are secured.
Massimiliano Ciferri, country manager Italy, commented "This acquisition is in line with Axactor's strategy elsewhere in Europe, allowing the Italian business to diversify across a broader range of NPL segments with the benefit of being able to participate in an increasing number of sales going forward."
The investments will be financed by Axactor Italy's existing credit facilities.
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 900 employees.