Axactor buys a portfolio of unsecured consumer loans in Italy.

Axactor has successfully concluded a bilateral agreement for the purchase of an NPL portfolio with a GBV of approximately € 70m for over 10,000 cases, with one of the leading banking institutions in Italy.

The purchase consolidates the relationship between Axactor and the Transferor, with whom it had already completed a competitive sale at the end of 2017.

Endre Rangnes, CEO of Axactor Group, commented “This acquisition represents another significant investment in Italy for the Group and has been completed with an institution we have worked with in the past. The Team is working on several other important transactions, which we expect to successfully conclude in the coming months."

The purchase will be financed both with own funds and through existing bank loans.