Danish distressed assets specialist DDM buys EUR 1 bln NPL bundle in Romania
DDM Holding, a multinational investor specialized in situations arising out of the general strategic challenges in the European banking markets, announced that it signed an agreement for the acquisition of an NPL portfolio containing…
iulian ernst · Journalist
· Updated · 1 min read
DDM Holding, a multinational investor specialized in situations arising out of the general strategic challenges in the European banking markets, announced that it signed an agreement for the acquisition of an NPL portfolio containing unsecured consumer receivables located in Romania.
AxFina, part of the DDM group, will perform the servicing of the portfolio, Marketscreener.com reported.
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.
"Turbulence in the market is creating interesting investment opportunities and we have selectively capitalized on this with a sizeable new investment in Romania," said Andreas Tuczka, acting CEO of DDM.
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