DDM Debt closes phase 1 of acquisition in Croatia
DDM Debt AB (Nasdaq Stockholm: DDM2) announces that the group has closed phase 1 of an acquisition from HETA Asset Resolution of a distressed asset portfolio containing secured corporate receivables in Croatia. The acquisition is made through a Joint Venture structure together with B2Holding where each party holds 50%. The Gross Collection Value (face value) of the total portfolio amounts to approximately EUR 800 million.
The acquisition is expected to fully close during Q2 and will be financed by cash on hand and internally generated cash flows.
Henrik Wennerholm, CEO of DDM, comments: “Closing this milestone acquisition that represents the single largest transaction in the history of DDM, demonstrates our ability to close large and complex transactions as well as our close contact to our key markets.”
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
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, and has 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: firstname.lastname@example.org, tel: +46 8 44686100).