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MeldingsID: 437624
Dato/tid 01.11.2017 06:00
Utsteder Axactor AB (publ)
UtstederID AXA
Instrument AXA
Marked OB
Kategori INNSIDEINFORMASJON
Informasjonspliktig   Informasjonspliktige opplysninger
Vedlegg
Tittel Axactor closed first transaction in partnership with Geveran Trading Co. Ltd.
Tekst
Axactor has reach an agreement with one of the leading financial 
institutions to execute a large primary transaction in Spain. The 
portfolio can be split into 3 distinct segments, one is composed 
of unsecured NPL's with an outstanding balance of close to EUR300m 
across more than 11.000 cases. The second segment contains in 
excess of EUR94m in secured NPL's across circa 150 cases and 
finally the third segment contains roughly 450 Real Estate Owned 
assets with an Appraisal Value of around EUR40m. This combined 
transaction will be one of the largest portfolios acquired by 
Axactor and is of a similar size to the acquisition made in Sweden 
earlier in the year.

This agreement will allow Axactor to reinforce its position in the 
Spanish NPL's market and elevate its presence in the large and 
growing REO's market, where the existing business in Spain already 
has some of the competencies required to manage large volumes both 
on its own portfolios as well as for third party clients. The 
diversification is expected to offer significant opportunities 
given the continued trend in portfolio sales including a variety 
of asset classes, both when Axactor is investing on its own or as 
part of a co-investment, where including secured assets will make 
certain investments more attractive. 

"The addition of this portfolio will be significant for Axactor 
since the composition of the portfolio will allow Axactor to 
increase its presence in REO's market while reinforcing Axactor 
position in NPLs market. This level of diversification will allow 
the business to maintain the focus on delivering healthy margins 
through access to a much broader number of opportunities coming to 
market over the coming years. ", says Endre Rangnes, CEO Axactor.

"The Axactor team in Spain is delighted to close this agreement, 
demonstrating clearly the determination of the team to develop the 
business across all NPL segments..", says Andrés López and David 
Martín, General Managers of Axactor Spain. 

This transaction will be funded from existing cash and credit 
lines.

For additional information, please contact:

Endre Rangnes, CEO Axactor
Mobile phone: +47 4822 1111
Email: endre.rangnes@axactor.com

or

Geir Johansen, CFO & Investor Relations, Axactor
Mobile phone: +47 4771 0451
Email: geir.johansen@axactor.com
www.axactor.com

About Axactor
Axactor Group specializes in both Debt Collection and Debt 
Purchasing across several countries, with operations in Italy, 
Germany, Norway, Sweden and Spain. The company has a Nordic base 
and an ambitious Pan-European growth strategy, which targets the 
market for non-performing loans (NPL) in Europe. This market is 
estimated to be about 1,500 billion euros across Europe providing 
significant opportunities for Axactor's future expansion. Axactor 
has approximately 900 employees.

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