Hoist Finance has announced that it has entered into an agreement to acquire a French non-performing retail mortgage portfolio with approximately 1.000 claims and an outstanding balance of approximately 1.000 MSEK. The seller is one of the largest mortgage banks in France and the portfolio acquisition represents an investment in excess of €50 million.
Fabien Klecha, Country Manager France said “Ahead of this transaction we brought in new expertise and built capacity to be well prepared to acquire and manage secured assets. This agreement allows us to enter the secured market in France in a disciplined way, furthermore, it also provides significant intangible benefits to our business in terms of a broader product offering and reliability as a partner to banks and financial institutions.”