KRUK’s successful closing of the P.R.E.S.C.O. portfolio purchase

The KRUK Group has finalised the acquisition of all the shares in Presco Investments S.a.r., together with that company’s debt portfolio on the Polish market. The portfolio comprises 2 million cases with a total nominal value of PLN 2.7bn. The final price for the shares is PLN 194m, after the adjustments provided for in the investment agreement of December 2015.

“We are closing one of the largest and most important deals in the history of not only the KRUK Group, but also the Polish market of debt management. The process is coming to its end as planned. We are fully prepared to commence operating activities on the purchased portfolio. The transaction closing is an initial stage of the project, whose ultimate objective is to confirm the efficiency of our debt management processes. In recent months, we have already integrated our operations and now we are waiting for the first meetings with our new clients,” said Piotr Krupa, President of the Management Board of KRUK S.A.

The newly purchased debt is an addition to the KRUK Group’s current case base. Following the transaction, the aggregate nominal value of its debt portfolio grew to PLN 30bn, while the number of cases exceeded five million.

“Thanks to outstanding professional skills of the project participants on the side of both the KRUK Group and P.R.E.S.C.O., after several months of hard work, we are smoothly beginning to manage the new portfolio. We will almost at once commence to build relations with the new clients. The finalisation of the deal proves the KRUK Group’s ability to successfully close even so large and complex projects,” added Piotr Krupa.

Taking into account the investments made in the first quarter, in 2016 the KRUK Group has already invested PLN 260m in portfolios with a combined nominal value of over PLN 3.1bn.