November 15, 2017 / 11:52 AM / 5 days ago

BRIEF-Axactor enters into a binding agreement for aquisition

Nov 15 (Reuters) - AXACTOR AB (PUBL):

* AXACTOR ENTERS INTO A BINDING AGREEMENT FOR THE ACQUISITION OF A 75%

* ‍TO TAKE A MAJORITY POSITION IN TWO SPANISH SPVS, CONTAINING MORE THAN 4,060 REO ASSETS

* ‍INVESTMENT WILL BE MADE THROUGH A LUXEMBURG HOLDING COMPANY IN PROCESS OF BEING ESTABLISHED, WHICH WILL BE CONTROLLED BY AXACTOR​

* ‍SECURED PORTFOLIOS/REO HAVE SIGNIFICANTLY SHORTER PAYBACK PERIODS THAN UNSECURED PORTFOLIOS​

* ‍SHORT PAYBACK IS EXPECTED TO HAVE A POSITIVE IMPACT ON AXACTOR‘S EBITDA IN 2018 AND 2019​ Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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