SEB AG sells Union Inkasso GmbH (DE)

SEB AG in Germany sells its retail debt collection subsidiary Union Inkasso GmbH to the Hoist Group. In addition to the debt collection platform, Hoist acquires SEB AG's non-performing retail claim portfolio, currently administered by Union Inkasso. Furthermore, Hoist and SEB AG establish a co-operation in non-performing retail debt collection.

Founded in 1985, Union Inkasso pursues debt collection activities in Germany relating to unsecured and secured non-performing retail claims. The company has 85 employees and currently services approximately 90 000 claims. The transaction will be closed in 2007 and will have a marginally positive effect on SEB's result in the first quarter.

Source: SEB

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