Axactor Group acquires large portfolio of consumer forward flow claims in Italy

Oslo, 19th June 2018
 
Axactor has entered 3 new forward flow agreements including a significant forward flow with a financial institution in Italy. The portfolios contain unsecured consumer claims with an outstanding debt value of 140 mEUR per annum across approximately 28.000 claims, with the contracts covering a 12month period.
 
Massimiliano Ciferri, country manager Italy, commented "This forward flow demonstrates a significant increase in volumes coming into our Italian platform. It is also clear evidence we are now able to close large transactions in the Italian market, and with the intention to close several more in 2018."
 
Axactor plans to finance this acquisition by use of available cash and existing credit facilities.

For additional information, please contact: 
Johnny Tsolis, CFO, Axactor
Mobile phone: +47 913 35 461
Email: johnny.tsolis@axactor.com

About Axactor 
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.