European debt purchaser DDM Holding has announced that it has entered into an agreement to acquire a sizeable distressed asset portfolio containing secured corporate receivables in the Balkans from a leading bank in the region. The gross collection value of the portfolio amounts to approximately EUR 240 million. About 90% of the portfolio value is located in Slovenia and Croatia, however this acquisition also includes receivables in Bosnia & Herzegovina and Montenegro, among others, further expanding DDM’s presence in Southern, Central and Eastern Europe.

The acquisition is financed by cash on hand.

Kent Hansson, acting CEO and Chairman of the Board of DDM said  “I am very pleased to announce yet another important step for the DDM Group, which builds on our experience from sizeable investments in Slovenia and Croatia in the last two years. Following significant due diligence work, we are also entering several new markets where we have established relationships with experienced collection partners.”