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BEST GROUP commences operations in the Italian market

After a hectic 2016, BEST Group shows no signs of slowing down. According to the report published by the Group, in 2017 BEST will commence operations outside Poland. The first foreign market that BEST plans to enter is that of Italy, where it soon plans to purchase its first debt portfolios.

 

“We believe that the Italian market has vast potential for growth and that it is still at an early stage of development. The factors that should additionally support the development of this claims market are conducive legal regulations facilitating claims transactions and the recovery of amounts due from debtors. A significant growth in the number of transactions on the claims market in recent years is the best proof for that. We hope that by using our unique know-how, developed through many years of operating on the domestic claims market, and the implementation of innovative technological solutions, commencing operations on Italian market will allow us to considerably increase the pace of our growth in the upcoming years,” says Krzysztof Borusowski, President of the Management Board of BEST S.A.

 

Together with establishing BEST Capital Italy, the Group is extending its operations by entering the Italian market. BEST Capital Italy is a special-purpose securitisation company whose operations include investing in claims or assets connected with claims. The structure of BEST Capital Italy assumes that all excess funds generated by the companies will be paid out to the investors, which are entities wholly owned by BEST Capital Group. The issuer does not preclude any changes in the investors’ structure in the future.

 

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General information about BEST

BEST S.A. specializes in trading in and managing of non-performing debts and has been listed on the Warsaw Stock Exchange since 1997. BEST Group actively invests in debt portfolios (especially in bank debts) using securitisation funds and provides debt collection services to third parties: banks, telecommunication and power companies as well as other providers of general services.

 

The combination of expertise in debt collection and in the establishment and management of investment funds allows the entity to concentrate all elements of its business model within a single capital group.

 

The total nominal value of own debts and third party debts managed by BEST exceeds PLN 12.8 billion (as at 31 December 2016). In 2016, BEST Group generated a net profit of PLN 38.8 million, while its operating revenues amounted to PLN 210.3 million.

 

For more information, visit www.best.com.pl or contact us at:

 

Joanna Sokołowska

CC Group Sp. z o.o.

22 440 14 40, 605 959 539

j.sokolowska@ccgroup.com.pl

 

 

You can also follow BEST Group on Twitter: https://twitter.com/BEST_Grupa.

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