14 October 2019

Axactor Italy

Axactor Italy acquires a portfolio of non-performing loans from a leading financial institution

Axactor Italy, part of the International Axactor Group, a leading player in the Italian credit purchase and collection market with over twenty years of experience in the sector, announces that it has acquired a significant portfolio of unsecured NPL loans from a primary National Financial Institute.

The credit package acquired contains approximately 7,000 positions with an outstanding balance of approximately 60 million euros and with payment agreements already in place. The closing of the transaction is scheduled for December 2019.

Antonio Cataneo, CEO of Axactor Italy commented: "We are happy to announce this transaction which was strongly desired, based on the quality and characteristics of the portfolio and which could have an immediate positive impact on both the turnover and the profitability of our business, also in future years. This operation allows us to close an exceptional year in the best possible way and to launch into 2020 with great confidence and enthusiasm."

Axactor will finance this acquisition with its own funds and available credit lines.

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Antonio Cataneo

CEO Axactor Italy