DDM provides additional information related to its Hungarian acquisition
Press release issued by DDM Holding AG and DDM Treasury Sweden AB (publ)
23 December 2015
DDM Holding AG (First North: DDM), (“DDM” or the “Company”), a multinational investor and manager of distressed assets, yesterday announced that it has signed an agreement to acquire significant assets in Hungary. With reference to the press release issued 22 December 2015, 08:00 a.m. CET, DDM is providing additional information regarding certain terms and conditions related to the acquisition.
DDM continues to expand via significant acquisitions and has concluded an agreement on the acquisition of a Hungarian leasing company, and its subsidiaries. The portfolio of assets will be acquired by the DDM Treasury group, while the shares in the leasing company will be acquired by DDM Group AG.
DDM will make the acquisition together with a global investment manager with approximately USD10 billion in assets under management. As previously announced the acquisition is estimated to grow DDM’s portfolio of investments in excess of EUR 15M to book value as reported at 30 September 2015.
The final purchase price is pending collections and performance of the acquired assets, from the cut-off date 1 January 2015 up to and including the date of closing. Date of closing is subject to regulatory approvals, and are expected during the first half of 2016. The portfolio acquisition will be financed through existing cash flows and/or debt instruments.
Due to the dynamic nature of the acquired asset portfolios, the final financial impact for the Company’s accounts is to be determined based on the year-end results of the acquired leasing company. DDM expects to disclose further details about this acquisition as soon as possible, at latest in its year-end report, scheduled to be published on 29 February 2016.
This information is of the type, which DDM Treasury Sweden AB (publ) must disclose in accordance with the Swedish Securities Market Act and/or the Financial Instruments Trading Act. The information was made public on 23 December 2015, at 8:30 a.m. CET.
For more information, please visit DDM’s website at www.ddm-group.ch or contact:
Anders Antonsson, Investor Relations
Mail: investor@ddm-group.ch | Tel: +46 8 4080 9030
DDM Holding AG (Nasdaq First North: DDM) is a multinational investor and manager of distressed assets. Since 2007, the DDM Group has built a successful platform in Eastern Europe, with over 2.2 million receivables in nominal value over EUR 1.8 billion. DDM Treasury Sweden AB (publ) (NGM: DDM1) is a subsidiary wholly owned by DDM Holding AG. Pareto Securities is DDM Holding AG’s Certified Adviser.
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