Brief: Hoist Finance Divests UK Unsecured Operations

Hoist Finance AB (publ)

13/04/2022 06:14

April 13 (Reuters) - Hoist Finance AB (publ)  HOFI.ST :
    * HOIST FINANCE DIVESTS UK UNSECURED OPERATIONS
    * HOIST FINANCE HAS ENTERED INTO AN AGREEMENT WITH LOWELL TO
DIVEST ITS UK CREDIT MANAGEMENT SUBSIDIARY INCLUDING UNSECURED
NPL PORTFOLIOS
    * ENTERPRISE VALUE OF TRANSACTION IS APPROX. SEK 4,500
MILLION
    * TRANSACTION REPRESENTS 108 PER CENT OF HOIST FINANCE'S
UNSECURED
BOOK VALUE
    * PORTFOLIO OF SECURED LOANS OF SEK 340 MILLION AND GROUP
FUNCTIONS WILL REMAIN OPERATING AS USUAL IN UK.
    * TRANSACTION IS EXPECTED TO CLOSE IN Q3 2022

Source text for Eikon:  ID:nWkr6S3x7j 
Further company coverage:  HOFI.ST 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))