Press

The announcement of the portfolio acquisition comes only weeks after Lindorff announced that it was taking over the Helly-Hansen accounting business in Munich. Now, a new Lindorff business line enters Germany.

Lindorff Capital, the portfolio acquisition part of Lindorff, has signed a contract to acquire a six-month forward flow portfolio of non-secured consumer debts. The portfolio will consist of approximately 1.500 files with a principal of approx. 18mill€. The bank will sell monthly tranches starting immediately.

Gaining experience
"This acquisition will give us excellent experience in the German market at a fairly low risk, and is vital to our international expansion" says Lindorff Germany representative Thomas Hampf. " In our discussions, the bank has clearly stated that they regard this deal as a platform for a potential long-term partnership", Mr. Hampf continues.

The actual collection of the portfolio will be provided by a highly reputable German debt collection agency with significant experience from a long-term relationship with the banking industry.

Bridgehead
"This solution constitutes a new entry model for Lindorff into a new market. We will continue our talks with the bank on a possible prolongation of the agrement after the initial 6-month contract period, and we look forward to develop this entry into a true bridgehead into the German ORM market", says Thomas Hampf.