Hoist Finance divests UK unsecured operations
Hoist Finance has entered into an agreement with Lowell to divest its UK credit management subsidiary including unsecured NPL portfolios. The enterprise value of the transaction is approx. SEK 4,500 million and represents 108 per cent of Hoist Finance's unsecured book value. “The divestment of the UK unsecured operations is a result of our commitment to invest and operate where we can generate attractive risk-adjusted returns. Our UK unsecured business has generated low returns during many years. It involves substantial fixed and semi-fixed costs, and thus scale will be a prerequisite