14 October 2019, 07:30 CEST

Axactor Group

Press release

Axactor Italy acquires paying portfolio from large Italian financial institution

Oslo, 14th October 2019

Axactor Italy, an Axactor group company, has been successful in acquiring a large portfolio of payment plans secured against promissory notes. The portfolio contains 7.000 claims with an outstanding balance of 60 mEUR, where all claims are in an active payment arrangement. The portfolio acquisition is expected to close in December 2019.

Antonio Cataneo, country manager for Axactor Italy, commented “Axactor Italy is happy to announce this acquisition, based on the quality of the portfolio and the immediate impact it has on both the revenue and profitability of the Italian business. This acquisition will give us good momentum as we head into 2020.”

Axactor plans to finance this acquisition using available cash and existing credit facilities.

For additional information, please contact:

Johnny Tsolis, CFO, Axactor
Mobile phone: +47 913 35 461
Email: johnny.tsolis@axactor.com