The Management Board of KRUK S.A. (the “Company”) announces that today agreements (the “Agreements”) were concluded between the Company’s subsidiary Kruk Investimenti s.r.l. of Milan (the “Buyer”) and UniCredit S.p.A. of Milan (the “Seller”). The Agreements provide for the purchase of debt portfolios comprising unsecured consumer loans, with an aggregate nominal value of up to EUR 304m (PLN 1.4bn translated at the average exchange rate quoted by the National Bank of Poland for June 17th 2021). The Agreements stipulate that debt portfolios with a nominal value of up to EUR 250m (PLN 1.1bn translated at the average exchange rate quoted by the National Bank of Poland for June 17th 2021) will be purchased in four tranches between June 2021 and March 2022.
The Agreements do not provide for any contractual penalties, and their other terms do not differ from standard market terms applied in agreements of such type.