European debt purchaser, DDM Holding has announced that it has entered into an agreement to acquire a distressed asset portfolio containing secured and unsecured SME receivables in Serbia from a leading bank in the region. The gross collection value of the portfolio amounts to approximately EUR 15 million.

The acquisition is financed by cash on hand.

Andreas Tuczka, CEO of DDM, commented “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.”