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19 June 2018, 11:50 CET
Axactor Group acquires large portfolio of consumer forward flow claims in Italy
Oslo, 19th June 2018
Axactor has entered 3 new forward flow agreements including a significant forward flow with a financial institution in Italy. The portfolios contain unsecured consumer claims with an outstanding debt value of 140 mEUR per annum across approximately 28.000 claims, with the contracts covering a 12month period.
Massimiliano Ciferri, country manager Italy, commented "This forward flow demonstrates a significant increase in volumes coming into our Italian platform. It is also clear evidence we are now able to close large transactions in the Italian market, and with the intention to close several more in 2018."
Axactor plans to finance this acquisition by use of available cash and existing credit facilities.
For additional information, please contact:
Johnny Tsolis, CFO, Axactor
Mobile phone: +47 913 35 461