Hoist Finance Completes Largest Portfolio Investment Ever in Acquisition of Non-performing Mortgage Portfolio in France

STOCKHOLM, Dec. 16, 2019 /PRNewswire/ -- Hoist Finance has acquired a French non-performing mortgage portfolio with more than 3.500 claims and an outstanding balance of approximately EUR 375 million. This is the largest portfolio investment ever for Hoist Finance. The seller is one of the major banks in France and in Europe and a key partner to Hoist Finance.

-     This is the first time a non-performing mortgage portfolio of this size is sold in France. This clearly positions Hoist Finance as a leader within this segment in a very promising market, says Fabien Klecha, Country Manager France and Chief Sales Officer.

-     This transaction, being a milestone in one of our prioritised markets, demonstrates our dedication to continued growth, and diversification into new asset classes. The positive market trends seen throughout 2019 continued in the fourth quarter, and I am happy to be able to confirm our full-year investment level approaching SEK 6 billion, says Klaus-Anders Nysteen, CEO of Hoist Finance.

This information is information that Hoist Finance AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication by Andreas Lindblom at 05:15 P.M. CET on 16 December 2019.

CONTACT:

For further information, please contact:
Andreas Lindblom, Head of Investor Relations
Telephone: +46-(0)-72-506-1422

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