DDM Debt acquires portfolio in Croatia

DDM Debt AB (Nasdaq Stockholm: DDM2) announces that it has entered into an agreement to acquire a distressed asset portfolio containing secured and unsecured consumer and corporate receivables in Croatia from a leading Group in the region. The gross collection value of the portfolio amounts to approximately EUR 200 million. The acquisition is subject to regulatory approval and is expected to close in the third quarter of 2019.

The acquisition will be financed by internally generated cash flows and drawing rights under the bank facility.

Henrik Wennerholm, CEO of DDM, commented “I am very pleased to announce another important step for the DDM Debt Group, which builds on our experience from sizeable investments in Slovenia and Croatia in the last three years.”

For more information, please visit DDM’s website at www.ddm-group.ch or contact: 

Henrik Wennerholm, Chief Executive Officer

Tel: +41 79 539 88 59

Fredrik Olsson, Chief Financial Officer

Tel: +41 79 331 30 17

Mail: investor@ddm-group.ch

DDM Debt AB (publ) (Nasdaq Stockholm: DDM2) is a wholly owned subsidiary of DDM Holding AG. DDM Holding AG (First North: DDM) is a multinational investor in and manager of distressed assets. Since 2007, the DDM Group has built a successful platform in Southern, Central and Eastern Europe, having acquired 2.3 million receivables with a nominal value of over EUR 4.0 billion. Arctic Securities is DDM Holding AG’s Certified Adviser (email: certifiedadviser@arctic.com, tel: +46 8 44686100). 

About Us

DDM Debt AB (publ) (Nasdaq Stockholm: DDM2) is a subsidiary of DDM Holding AG (First North Growth Market: DDM) a multinational investor in and manager of distressed assets, offering the prospect of attractive returns from the expanding Southern, Central and Eastern Europe market. Since 2007, the DDM Group has built a successful platform in Southern, Central and Eastern Europe, and has acquired 2.3 million receivables with a nominal value of over EUR 4 billion. For sellers (banks and financial institutions), management of portfolios of distressed assets is a sensitive issue as it concerns the relationship with their customers. For these sellers, it is therefore critical that the acquirer handles the underlying individual debtors professionally, ethically and with respect. DDM has longstanding relations with sellers of distressed assets, based on trust and the Company’s status as a credible acquirer. The banking sector in Southern, Central and Eastern Europe is subject to increasingly stricter capital ratio requirements resulting in distressed assets being more expensive for banks to keep on their balance sheets. As a result, banks are increasingly looking to divest portfolios of distressed and other non-core assets. DDM Holding AG, the Parent Company, is a company incorporated and domiciled in Baar, Switzerland and listed on Nasdaq First North Growth Market in Stockholm, Sweden, since August 2014.

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