Axactor Italy, has acquired another portfolio of unsecured consumer claims from a large financial institution in Italy. The portfolio has an outstanding balance of approximately 145 mEUR, across 17.000 cases. The portfolio includes a segment containing cases which already have an existing payment arrangement, which means there is an existing cashflow stream being acquired as part of this transaction.
Oddgeir Hansen, COO Axactor Group & Interim Country Manager Axactor Italy, commented “this acquisition is an important addition to the Italian business. Including this NPL contract with other recent acquisitions, we will generate strong growth into 2019, as well as having an immediate impact on revenues due to the existing paying book”.
The investments will be financed through Axactor existing cash and credit facilities.