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Banco Sabadell sell their unpaid debt management and collection business to Lindorff Spain

Banco Sabadell has reached an agreement with Lindorff Spain for the transfer of their unpaid debt management and collection business. The price of this operation amounts to 162 million Euros, generating a gross capital gain for the same amount.

The agreement has been formalised through the sale of the business, and moreover complemented with the provision of services for the management and collection of past-due receivables by Lindorff Spain, for an initial period of ten years.

This operation, which includes the optimisation of management and collection processes with regard to both their current stock of past-due receivables along with such future receivables as may be added during the term established in the agreement, is include din the Banco Sabadell Group’s strategy for the transformation of their balance sheet, as defined in the Group’s Plan Triple 2014-2016 strategic plan.
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Banco de Sabadell, S.A. Avenida Óscar Esplá, 37, 03007 Alicante, registered with the Mercantile Register in Alicante, tome 4070, folio 1, page A-156980, Fiscal Identification Number (NIF) A08000143.
Financial institution under the supervision of the Bank of Spain and registered in the Special Administrative Register under number 0081
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