Axactor Group acquires large portfolio of consumer claims in Italy

Oslo, 6th December 2018

Axactor has acquired another significant portfolio of unsecured consumer claims from a large financial institution in Italy. The acquisition is the second portfolio from this seller after the team acquired their last portfolio at the end of 2017. The portfolio has an outstanding balance of approximately 70 mEUR, across 10.000 cases.

Endre Rangnes, CEO Axactor Group, commented “This acquisition is another significant investment for Axactor Group in Italy and comes from a seller we have worked with before. The team continue to work on several other important transactions, which we expect to compliment this purchase over the coming months.”

The investments will be financed through Axactor existing cash and 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.