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Axactor Italy sells NPL credits to SOREC

Axactor Italy

Press Release

Cuneo, 9 th October 2019 - Axactor Italy, part of the International Group Axactor SE, a leading player in the Italian credits acquisition and collection market with over twenty years of experience in the sector, announces to have concluded an NPL credit sales for almost 14,000 positions, with the company SOREC S.r.l.

This transaction involved receivables of approximately Euro 84.5 million. Among these, around 78% of GBV refers to SMEs, while the remaining 22% refer to individuals.

From a geographical point of view, the portfolio transferred by Axactor to Sorec is mostly located in the Northern Italy and for more than 12% in Central Italy.

This operation, result of a consolidated partnership between Sorec and Axactor, is part of Axactor Italy's growth plan, which aims to focus mainly on the purchase and management of loan portfolios from the primary market, in line with the Group's focus.

About Axactor Italy - www.axactor.it

Axactor Italy is an authorized financial intermediary registered in the Register pursuant to art. 106 of Legislative Decree 385/93 n. 31482. It is based in Cuneo and operates in Italy since 2016, after the acquisition of CS UNION S.p.A. Axactor Italy also holds a license pursuant to art. 115 TULPS and is associated to UNIREC. Axactor Italy offers NPL purchasing and management services, third-party credit collection, sale of non-recourse receivables that are difficult to collect and customer care and reconciliation of invoices and payments (ARM).

About Axactor Group - www.axactor.com

The Axactor Group is specialized both in debt collection on behalf of third parties and in the purchase of NPL portfolios, with operating platforms in Finland, Italy, Germany, Norway, Sweden and Spain, is based in Oslo and is listed on the Norwegian Stock Exchange. The Scandinavian company has an ambitious pan-European growth strategy, targeting the non-performing loans (NPL) market, which has an estimated value of around 1,000 billion Euros across Europe, able to offer significant opportunities for the future expansion of Axactor. Axactor has around 1100 employees in the countries in which it operates.

Info for the Press:

CDR Communication - Angelo Brunello angelo.brunello@cdr-communication.it

Mara Di Giorgio mara@twin.services

Axactor Italy contacts:

Filippo Mantovani, Finance Director - M: 3457565336 @: filippo.mantovani@axactor.com

Fortunato Pagano, Head of Sales - M: 3288984990 @: fortunato.pagano@axactor.com