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02 May 2017, 08:00 CET
Axactor closes two NPL transactions in Italy
Axactor has acquired another two unsecured NPL portfolios in Italy, the portfolios are Auto finance shortfalls, including unsecured claims with a total Outstanding Balance (OB) of approximately €22 million, across 2,500 cases.
Both portfolio transactions are from Financial Institutions which Axactor has acquired from previously and Axactor is delighted to have been able to build on the existing relationships acquired through the purchase of C.S Union Spa in 2016.
“These acquisitions demonstrate our ability to work closely with existing clients to grow the Axactor business in Italy, complementing our activities focused on adding new clients as we move through 2016 ”, says Davide Graneris, Country manager, Axactor Italy.
“These portfolios, continue to improve and grow the assets under management in our Italian business and we expect these to be the first of several transactions in 2016”, says Robin Knowles, Portfolio Acquisition EVP, Axactor Group.
The investments will be 100% financed by Axactor’s existing credit facilities provided by the company’s Italian banking partners.