August 3 (SeeNews) - Swiss-based asset management company DDM Holding said on Thursday it has set foot in Croatia by acquiring two distressed asset portfolios in the country at the end of the first half of 2017.
DDM Holding paid some 28 million euro ($33.2 million) to purchase the two portfolios in line with its strategy to grow investments and to rapidly expand presence across the region of Central and Eastern Europe (CEE), the company said in its half-year financial report.
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The company said it purchased a portfolio containing secured corporate receivables from a leading international bank for 21 million euro and a portfolio of secured consumer receivables in Croatia from a regional lender in June.
The acquisition was made following significant due diligence work and increased the exposure of DDM Holding to the corporate receivables segment, the Swiss-based firm said.
Elsewhere in Southeastern Europe (SEE), DDM Group is present in Slovenia, Romania and Macedonia, while Serbia and Bulgaria are considered potential new markets, according to information from the corporate website.
($ = 0.844025 euro)