16 October 2017, 11:37 CEST
Axactor acquires an Auto Loan Portfolio in Spain from major European car manufacturer
Axactor has acquired an Auto Loan Portfolio in Spain from one of the major European car manufacturers, the total outstanding balance was close to EURO 100m and there were more than 10.000 claims in the portfolio.
The portfolio contains a high level of cases in the legal process and contains a high quality of data and documentation. The acquisition will be closed with a co- investment partner, Plataforma Legal, taking a minority interest along with providing specialist collection services. The combination of Axactor and Plataforma Legal was a key factor in successfully closing this deal.
"Axactor's focus on quality in the Spanish market continues to deliver growth. This portfolio, given its legal status, was a perfect fit for Axactor as well as enabling the relationship with Plataforma Legal, which could potentially lead to further acquisitions in the future. The whole team are very pleased to have been successful in this transaction", says Andrés López and David Martín, General Managers of Axactor Spain.
For additional information, please contact:
Endre Rangnes, CEO Axactor
Mobile phone: +47 4822 1111
Geir Johansen, CFO & Investor Relations, Axactor
Mobile phone: +47 4771 0451