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30 March 2017, 07:30 CET
Axactor enters 1st agreement to acquire unsecured non-performing loan (NPL) portfolio in Sweden.
Axactor has extended an agreement to acquire
portfolios from a large Nordic Financial Institution, to cover the
Swedish market as well as Norway. The portfolio will be acquired on
a similar basis to Norway, where the cases are acquired monthly. The
cases are freshly terminated B2C, allowing Axactor to have control
over the entire collection process.
This first NPL transaction in Sweden will have a single digit mEUR
annual capex value. Further, given the strong pipeline it is
expected that Axactor will significantly increase its position in
Sweden during 2017.
"This portfolio clearly shows Axactor's focus on investing in
portfolios across all Axactor geographies as well as showing our
ability to build strong relationships with partners in more than one
country. The expectation is for this trend to continue over the next
few years.", says Endre Rangnes, Axactor CEO.
"Acquiring our first portfolio in Sweden so soon after acquiring the
platform, clearly demonstrates the emphasis that the portfolio team
put on supporting the overall Axactor growth strategy.", says Robin
Knowles, Axactor EVP Portfolio.
Axactor plans to finance this acquisition by use of available cash
existing credit facilities.
For further information, please contact:
Chief Executive Officer
Tel: +46 8 402 28 00
Cell Phone: +47 48 22 11 11
Chief Financial Officer
Cell Phone: +47 477 10 451