DDM Holding AG (First North Growth Market: DDM) announces that it has signed an agreement for the acquisition of a NPL portfolio containing unsecured consumer receivables located in Romania. The servicing of the portfolio will be performed by AxFina, part of the DDM group. The gross collection value (face value) of the portfolio amounts to over EUR 1 billion with the acquisition financed by cash on hand. The closing of the transaction is expected in late Q3 2023 following clearance by the competition authority.
DDM also announces that it has sold its 5% stake in Borgosesia S.p.A, which is pending regulatory approval, as well as its associated NPL portfolio as part of its continuous active asset management.
Andreas Tuczka, acting CEO of DDM, comments: "Turbulence in the market is creating interesting investment opportunities and we have selectively capitalized on this with a sizeable new investment in Romania. We continue to actively manage our assets to optimize returns on our investments going forward."
The information was submitted for publication through the agency of the contact person set out below, on 3 July 2023 at 11:00 CEST.
For more information, please visit DDM's website at www.ddm-group.ch or contact:
Andreas Tuczka, Acting CEO
Tel: +41 41 766 14 20
Fredrik Olsson, Chief Financial Officer
Tel: +41 79 331 30 17
Mail: investor@ddm-group.ch
DDM Holding AG (Nasdaq First North Growth Market, Stockholm: DDM) is a specialized multinational investor in situations arising out of the general strategic challenges in the European banking markets. This includes investments into assets and companies previously held by financial institutions, including performing and non-performing loans and special situations. DDM strives to create value for its stakeholders by combining significant expertise in financial services, credit underwriting and technology with a focus on operational excellence. DDM Holding AG is domiciled in Switzerland and was founded in 2007. DDM Debt AB (publ) (Nasdaq Stockholm: DDM DEBT 2026) is a wholly owned subsidiary of DDM Holding AG. Arctic Securities is DDM Holding AG's Certified Adviser, address: Regeringsgatan 38, 111 56, Stockholm, Sweden, e-mail: certifiedadviser@arctic.com,tel: +46 8 44686100.