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Nov 28, 2017 17:00 EEST
November 28 (SeeNews) - Swiss-based DDM Holding said on Tuesday it has set foot in Serbia by signing a deal to acquire a distressed asset portfolio containing secured and unsecured receivables of small and medium-sized enterprises (SMEs) from a leading bank in the region.
The gross collection value of the portfolio amounts to approximately 15 million euro ($17.8 million) and the acquisition is financed by cash on hand, DDM Holding said in a statement.
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"This investment is in line with our strategy to continue to grow and diversify our portfolio of investments and to expand our presence in Southern, 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 CEO of DDM Holding, Andreas Tuczka, said.
DDM Holding, founded in 2007, is active in the acquisition of distressed asset portfolios in Southern, Central and Eastern Europe. In Southeastern Europe (SEE), the company is also present in Slovenia and Croatia.
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