Hamburg/Madrid – EOS Group has acquired the debt collection unit for the collection of Spanish Banco Popular’s receivables with payment irregularities. Both parties agreed on a purchasing price of 135 million euros.
“For EOS, this is one of the most significant investments in our recent corporate history,” said Hans-Werner Scherer, CEO of EOS Group, on the acquisition. “EOS thus further expands its position in the Spanish market.”
Through the sale of its debt collection unit to EOS, Banco Popular will fully outsource the collection of receivables with payment irregularities that are overdue up to 90 days. Moreover, with this transaction and an exclusivity agreement valid for ten years the Spanish banking group and the Hamburg-based financial services provider solidify their partnership. Already in 2009 EOS Group had acquired Acción de Cobro, the debt collection unit of Banco Pastor, a Banco Popular Group company.