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DDM strengthens its presence in CEE through two portfolio acquisitions in Croatia
DDM Holding AG (First North: DDM) announces that it has agreed to acquire a distressed asset portfolio containing secured corporate receivables in Croatia from a leading international bank. The total investment amounts to approximately EUR 21 million. The acquisition is subject to regulatory approval.
DDM also announces that it has entered into an agreement to acquire a distressed asset portfolio containing secured consumer receivables in Croatia from a leading bank in the region. The total investment amounts to approximately EUR 7 million.
Both acquisitions will be fully financed by cash on hand.
“These investments are in line with our strategy to grow our investments and to expand our presence in Central and Eastern Europe. Following significant due diligence work, we are entering a new market which has strong potential for future growth, and where we have established relationships with experienced collection partners. The larger portfolio is another milestone transaction for DDM, where we will acquire a sizeable portfolio increasing our exposure to the corporate receivables segment. With these acquisitions we continue to diversify our portfolio of investments, in line with our strategy”, says Gustav Hultgren, CEO of DDM.
This is information which DDM Holding AG is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 18:00 CET on 30 June 2017.