STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Hoist Kredit (STO:HOI)
Hoist Finance today announces the acquisition of its Italian service partner TRC SpA. The transaction is another step in the strategy to grow and expand its European footprint.
Hoist Finance announces the agreement with the owners of its Italian service partner TRC SpA, a company Hoist Finance has worked closely with since the company entered the Italian market in 2011. The acquisition is a natural step towards becoming the leading debt restructuring partner to global banks and financial institutions.
“I am delighted that we have reached an agreement to bring our Italian service partner into the Hoist Finance Group. We made our first investment in Italy in 2011 after a detailed analysis of the market place and have since then enjoyed a close co-operation with TRC, one of the leading and most experienced players in Italy. We look forward to welcoming TRC into the Hoist Finance family,” says Jörgen Olsson, CEO Hoist Finance.
“After having worked side-by-side with Hoist Finance since 2011, it was a natural step for us to form a structure for closer co-operation. As part of Hoist Finance, we will be even better positioned to continue to capture the upcoming opportunities in Italy,” says Clemente Reale of TRC.
About Hoist Finance
Hoist Finance is a trusted debt restructuring partner to global banks and financial institutions, offering a broad spectrum of advanced solutions for acquisition and management of non-performing consumer loans. The total value of Hoist Finance’s acquired loans is approximately EUR 800 million.
Hoist Finance has a presence in nine European markets. Hoist Kredit AB (publ) is licensed and regulated by the Swedish Financial Supervisory Authority, and is funded by the internet-based savings deposit service HoistSpar, attracting more than 50,000 depositors, and by unsecured bonds of in total SEK 1.1 billion, listed on NASDAQ OMX.
The information above has been published pursuant to the Swedish Securities Markets Act (Sw. lag om värdepappersmarknaden).
This information was released for publication at 8.00 on 28 July 2014.
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