Kruk buys PLN 1.15 bln liabilities in Romania

WSE-listed debt collector Kruk, through its subsidiary InvestCapital Malta acquired Romanian corporate liabilities worth some PLN 1.15 billion from BRD Groupe Societe Generale, the company said in a market filing. “The successful tender will strengthen our lead on the debt management market in Romania. At the same time, it will enhance our potential in the particularly attractive segment of corporate debt. In this way, we are successfully applying our experience from the Polish market in Romania. We first gained a foothold in the Romanian market last years, with the investment in 2016 in corporate debt portfolios worth more than PLN 800 million. Today’s investment will substantially expand the scale of our business,” said Piotr Krupa, Kruk CEO after the tender results were announced.