BEST S A : takes over part of claims from a large portfolio

A 100% owned subsidiary fund of BEST SA becomes the owner of a total of 163,472 claims with a nominal value of PLN 2.08 billion. Concluding agreements is part of a joint investment with the company's Swedish partner.

BEST III Niestandaryzowany Sekurytyzacyjny Fundusz Inwestycyjny Zamknięty in Gdynia (BEST III NSFIZ), in which BEST SA indirectly holds 50 percent of investment certificates, sold claim portfolios. Some of them were acquired by BEST I Niestandaryzowany Sekurytyzacyjny Fundusz Inwestycyjny Zamknięty in Gdynia. As a result, the fund, which is 100% controlled by BEST SA, acquired rights (subject to the condition precedent consisting in payment of the price) to a total of 163,472 claims with a total nominal value of PLN 2.08 billion.

- The transaction price was established according to market terms. The conclusion of the agreement is part of the completion of a joint investment with our Swedish partner after 11 years, says Krzysztof Borusowski, President of the Management Board of BEST S.A.

In April 2012, BEST SA, BEST Towarzystwo Funduszy Inwestycyjnych and the Stockholm-based Hoist Kredit Aktiebolag concluded an investment agreement. Based on the agreement, mutual relations resulting from the joint investment in BEST III NSFIZ and matters related to entrusting BEST SA the management of the securitized claims of BEST III NSFIZ were established.