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The Warsaw Voice » Business » October 9, 2017
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GetBack wants to buy Scandinavian companies
October 9, 2017   
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Konrad Kakolewski
WSE-listed debt collector GetBack is pursuing a PLN 3.4 billion purchase of the Scandinavian debt collecting companies being sold by Sweden's Intrum Justitia and Norway's Lindorf, according to the daily Parkiet's own findings.
GetBack's efforts are reportedly backed by Goldman Sachs, which would both mediate in the transaction process and provide up to 70% of the money needed to accomplish the deal.
GetBack's CEO Konrad Kakolewski declined to comment on the matter, but the local analysts admit that such a transaction is possible.
Buying an established organization abroad would be a milestone for GetBack's expansion plans, the Haitong Bank analyst Kamil Stolarski comments. The company may have limited possibilities of obtaining the funds necessary to execute the purchase, but it has already demonstrated creativity in its approach to the funding structure and booking investments, and as such it may surprise the market, Stolarski adds.
Finding means to finance the transaction is here a key issue, an anonymous source admits, given the fact that GetBack's capital is strained by the company's ample investments on the domestic market. Still, taking over established firms seems safer than starting foreign expansion from scratch.
In the meantime, GetBack representatives are on a road show in the US to entice potential investors, according to the daily's own findings.
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