Hoist Finance enters into an agreement to acquire an Italian credit management company, broadening its offering to the Italian banking sector
Hoist Finance has entered into an agreement to lease and subsequently acquire the business going concern of the Italian debt collection companies Maran S.p.A. and R&S S.rl. (“Maran Group”) in a multistep process, in the context of their composition with creditors (concordato preventivo) pursuant to Italian Insolvency Law.
- The acquisition of the Maran Group will add capacity and competence to our current activities in Italy and create an integrated servicing platform that enables us to be a full-service debt restructuring partner to the Italian financial sector, says Klaus-Anders Nysteen, CEO of Hoist Finance.
- Following the acquisition of the Maran Group, we will be able to offer the full spectrum of services sought after by the Italian banking sector, providing both servicing and portfolio acquisitions as well as a combination of the two. The acquisition will also broaden our competence in other asset classes, says Clemente Reale, Country Manager Hoist Finance Italy.
The transaction will not have a significant effect on Hoist Finance financial position.
Founded in 1993 Maran Group is a well-reputed debt collection agency with a customer base, including the larger Italian banks and financial institutions. The Maran Group has one operational centre employing approximately 200 people. Completion of the acquisition is subject to certain conditions and is expected to take place during the first half of 2019.
For further information please contact:
Group Head of Investor Relations
Tel: 46 8 555 177 19
About Hoist Finance
Hoist Finance is a trusted debt restructuring partner to international banks and financial institutions. We are specialised in serving banks in handling non-performing loans, and supporting individuals in becoming debt free. Through expertise and rigorous compliance we earn the banks’ trust. Through respect, honesty and fairness we earn the trust of our customers. For further information, please visit hoistfinance.com.