DDM Debt finalize acquisition in Croatia
DDM Debt AB (Nasdaq Stockholm: DDM2) announces that the group has finalized the 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 was financed by cash on hand and internally generated cash flows.
Henrik Wennerholm, CEO of DDM, comments: “The closing of this acquisition, which represents the single largest transaction in the history of DDM, is expected to significantly contribute towards positive cash collections and generate substantial earnings growth.”
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: email@example.com, tel: +46 8 44686100).