B2Holding ASA sign agreement for sale of subsidiary in Bulgaria 2022-08-19
B2Holding has signed an agreement to sell 100% of the shares in its Bulgarian
subsidiary, Debt Collection Agency EAD ("DCA"), to a local Special Purpose
The total proceeds received from the sale of DCA is EUR 48.4 million which after
adjustments represent close to 100% of the book value of the portfolios. The
closing of the transaction is subject to relevant regulatory approvals in
Bulgaria and is expected in October this year.
The transaction will trigger a non-cash impairment of NOK 105 million after tax.
This is mainly related to goodwill. The signing of the Sale and Purchase
Agreement was done subsequent to the second quarter, but B2Holding will
recognize the impairment in the second quarter.
"The sale of DCA Bulgaria is another important step in reducing our geographical
footprint and redeploying capital in our core markets to further drive
scalability in the Group. This is an important part of our communicated
strategy. As more than 90% of assets in DCA are unsecured portfolios, the
strategic fit with the other countries serviced by Veraltis Asset Management is
limited. I would like to thank Yulia Yurgakieva, CEO of DCA, and her team for
all their efforts, and I wish them all the best for the future," said Erik
Johnsen, CEO of B2Holding.
The sale is a result of a structured auction process advised by Alantra
Corporate Portfolio Advisors Limited.
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
For further information, please contact:
Head of Commercial Strategy and Investor Relations, B2Holding ASA
Mobile: +47 952 55 842
About B2Holding Group:
B2Holding ASA is a Nordic based debt solutions provider with platforms in over
20 European countries. B2Holding has experienced significant growth since its
inception in 2011 and has established itself as one of the leading European debt
purchasers and a solution-oriented partner within the debt servicing industry.
B2Holding ASA is headquartered in Oslo, Norway, and the B2Holding share is
listed on the Oslo Stock Exchange under ticker "B2H". For further information,