Acquisition of Portfolio
April 01 2010 - 10:57AM
UK Regulatory
TIDMDIWO
RNS Number : 6734J
Direct Wonen N.V.
01 April 2010
Direct Wonen NV
Acquires intermediary consumer credit loan portfolio
Direct Wonen NV (the "Company") announces that its wholly owned subsidiary,
Geldshop BV ("Geldshop"), has acquired an intermediary consumer credit loan
portfolio for a cash consideration of EUR 10.1 million ("the Acquisition"), to be
funded from the Company's cash resources. This portfolio has been acquired from
three intermediary companies: Nifa Financieringen BV, Krediet Groep Nederland BV
and DGA Financieel Adviseurs Zeeland BV.
At the date of purchase, the portfolio currently generates a monthly ongoing
commission of approximately EUR 550,000, representing income of approximately EUR
6.6 million on an annualised basis.
Geldshop sees the Acquisition as an excellent opportunity to increase its market
share against a background of increasing focus within the sector on efficiency
processes and lower costs. As a result of the Acquisition, Geldshop will benefit
from increased business volumes and this is expected to result in improved
economies of scale and an immediate reduction in the cost per transaction.
The Acquisition will add a consumer client portfolio of approximately 19,000
active clients and a range of client data. The transaction structure
incorporates an adjustment mechanism, the effect of which is that the Company
will benefit from the performance of the loan portfolio from January 1st, 2010
to the date of completion.
The Acquisition is expected to make a positive contribution to the Company in
the current year.
For more information, please contact:
Direct Wonen Irma de Jong
Tel.: +31 70 711 5691
E-mail: i.dejong@directwonen.nl
Website: www.directwonencorporate.com
Collins Stewart (Nomad)
Jon Drage, Stewart Wallace
Tel: +44 20 7523 8350
This information is provided by RNS
The company news service from the London Stock Exchange
END
ACQUAVSRRSASRAR
Direct Wonen (LSE:DIWO)
Historical Stock Chart
From May 2024 to Jun 2024
Direct Wonen (LSE:DIWO)
Historical Stock Chart
From Jun 2023 to Jun 2024