Slovak group Slavia Capital, specialising in the acquisition andmanagement of portfolios of non-performing loans and risky assets,has bought the Romanian-based consumer finance operations ofBelgian group KBC.
Slavia Capital used the Loan Management fund for theacquisition, with the newly-bought portfolio to be managed by APS -Asset Portfolio Servicing, through its Bucharest subsidiary. Thevalue of the deal on has not been revealed. The announcement of thedeal is set to be made by KBC and the Slovaks this week. The nameof the company will be changed to APS Consumer Finance IFN.
After several months of talks, KBC, a group which during theeconomic boom announced big plans to develop its operations inRomania, and even bought Romstal Leasing for around 70 millioneuros, ultimately decided to drop consumer finance operations,which saw loans granted even in stores, loans that came with a highinterest and were used for buying durable goods.
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