Aktiv Stays Active, Buys Two Spanish Portfolios

Published on:
21 December 2007 at 05:24 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00038305-aktiv-stays-active-buys-two-spanish-portf/

Oslo, Norway-based Aktiv Kapital ASA announced it bought two portfolios from two financial institutions in Spain with a total face value of $133.2 million and about 75,000 non-performing customer accounts.

Aktiv reported that it had spent this year $191.4 million on portfolios and remains in the hunt for more purchases before the end of the year.

Recently, Aktiv announced it had purchased about 800,000 non-performing telecom accounts from Spain’s Telefonica Group ("Two European ARM Giants Announce Big Portfolio Buys," Dec. 18).

Aktiv reported revenues for the nine months ended Sept. 30 of $214.6 million and profits before taxes of $74.3 million.