Reference is made to the third quarter presentation 6 November 2019 disclosing that B2Holding ASA has entered into a partnership with Waterfall Asset Management (“Waterfall”) for co-investments in unsecured portfolios in the Nordic region. On 11 December 2019, the B2Holding Group signed the agreement with Waterfall to enter into a co-investment for a non-performing loan portfolio in Sweden. The portfolio, with a Face Value of EUR 68m comprising of consumer loans and credit cards, was previously purchased by B2Holding in June 2019 from an international bank operating in all Scandinavian countries. B2Holding and Waterfall have together set up a new entity which will own the portfolio and in which B2Holding will have a minority share. The servicing of the portfolio will be provided by Sileo Kapital, a wholly owned subsidiary of the B2Holding Group. “This agreement is an important milestone for B2Holding and Sileo Kapital. It marks the beginning of a co-investment partnership with Waterfall in the Nordic market which aims to further utilise B2Holding’s collection and acquisition services.” says Erik Just Johnsen, Interim CEO of B2Holding ASA. Previously, B2Holding and Waterfall have co-invested in two unsecured loan portfolios in Greece. “This transaction is yet another step into the new strategic direction of B2Holding to increase its assets under management and the share of revenue from external servicing. We are delighted to announce another partnership with Waterfall, and we will provide more background on this shift in strategic direction regarding co-investments as part of our fourth quarter results presentation.” says Johnsen. For inquiries regarding the transaction, please contact: Erik J. Johnsen Interim CEO and CFO, B2Holding ASA Mobile: +47 415 77 055 Email: ejj@b2holding.no
