GetBack acquires €246 mln debt portfolio in Spain

WSE-listed debt collector GetBack acquired debt portfolio with a combined nominal value of €246 million from an unnamed Spanish bank, the company said in a market filing. “Pursuant to the provisions of the agreement, the ownership of the purchased portfolios was transferred after the entity settled the agreed price, which took place after the contract was signed. The terms of the agreement do not differ from those commonly used in this type of agreements,” the company said in a market filing. This was second such purchase in Spain for GetBack, after acquiring €637 million portfolio on the Spanish market back in January. Back in September, the company informed that it has signed a cooperation agreement with two leading Spanish debt management companies, Cobralia Servicios Integrales de Recuperation and Liberto Ventures which will manage the portfolios bought by GetBack on the local market.