Kruk adding Spanish market to its operations

Kruk will acquire shares to operate in the area of ​​debt management on the Spanish market, the company said in a press release on Monday. “According to the offer, the issuer will acquire stock [that is] 100 percent free from any encumbrances and third party rights of the shares,” the statement read, in part. The company explains that the acquisition of the shares will be in accordance with the published strategy of Kruk for the years 2015-2019, which envisages the development of the projects through acquisition. It stated that the purchase of shares will take place by January 31, 2017. Kruk is the largest receivables management company in Poland. In 2015, it purchased and serviced debts worth PLN 7.9 billion in seven markets, including Poland, Romania, Czechia, Slovakia, Germany and Italy. The company, which had consolidated sales revenues of PLN 611 million last year, has been listed on the Warsaw Stock Exchange since 2011.