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Aktiv Kapital (OSL:AIK) In line with the Aktiv Kapital strategy to leverage market conditions, the company has entered into an agreement with one of the world leading financial institutions to purchase a consumer credit portfolio in Austria with face value of NOK 2141 (EUR 258) million. The portfolio contains approximately 15 500 accounts and has during the last twelve months generated a cash flow of approximately NOK 183 (EUR 22) million. The purchase represents Aktiv Kapital's largest investment in 2008.
"This is a strategically important acquisition for Aktiv Kapital. We are acquiring a portfolio with cash flow, which reduces acquisition risk and increases our market opportunities. We believe that collection from the acquired portfolio will continue to be substantial when implementing Aktiv Kapital's collection strategies" says Erik Oyno, CEO and President of Aktiv Kapital Group.
The company has including this latest acquisition purchased portfolios representing a Face Value of NOK 9 501 (EUR 1 196) million, with an accumulated acquisition cost of NOK 822.6 (EUR 103.5) million.
"In the current financial turmoil we see a multitude of opportunities for Aktiv Kapital, relieving financial institutions of non-core assets and operations", concludes Oyno.
After this acquisition Aktiv Kapital currently has NOK 900 million available for further acquisitions within the frame of the existing credit facility.
Further information Erik Oyno, CEO & President Aktiv Kapital Group Phone: +47 90131203, email: erik.oyno@aktivkapital.com, or Scott Danielsen, CFO Aktiv Kapital Group Phone: +47 95255620, email: scott.danielsen@aktivkapital.com
About Aktiv Kapital Headquartered in Oslo, Norway. Aktiv Kapital has operations in 11 countries, and is today Europe's and Canada's largest purchaser of non-performing consumer credits. Aktiv Kapital had in 2007 an operating revenue NOK 1 575 million. Within the Portfolio segment Aktiv Kapital had approx 550 000 paying customers in 2007. Aktiv Kapital is listed on the Oslo Stock Exchange (AIK).
For more information about Aktiv Kapital, please visit www.aktivkapital.com
