Acquisition of Portfolio

 

TIDMDIWO 
 
RNS Number : 6734J 
Direct Wonen N.V. 
01 April 2010 
 

                                Direct Wonen NV 
 
Acquires intermediary consumer credit loan portfolio 
 
Direct Wonen NV (the "Company") announces that its wholly owned subsidiary, 
Geldshop BV ("Geldshop"), has acquired an intermediary consumer credit  loan 
portfolio for a cash consideration of EUR  10.1 million ("the Acquisition"), to be 
funded from the Company's cash resources. This portfolio has been acquired from 
three intermediary companies: Nifa Financieringen BV, Krediet Groep Nederland BV 
and DGA Financieel Adviseurs Zeeland BV. 
 
At the date of purchase, the portfolio currently generates a monthly ongoing 
commission of approximately EUR 550,000, representing income of approximately EUR 
6.6 million on an annualised basis. 
 
Geldshop sees the Acquisition as an excellent opportunity to increase its market 
share  against a background of increasing focus within the sector on efficiency 
processes and lower costs. As a result of the Acquisition, Geldshop will benefit 
from increased business volumes and this is expected to result in improved 
economies of scale and an immediate reduction in the cost per transaction. 
 
The Acquisition will add a consumer client portfolio of approximately 19,000 
active clients and a range of client data. The transaction structure 
incorporates an adjustment mechanism, the effect of which is that the Company 
will benefit from the performance of the loan portfolio from January 1st, 2010 
to the date of completion. 
 
The Acquisition is expected to make a positive contribution to the Company in 
the current year. 
 
 
 
 
For more information, please contact: 
 
Direct Wonen Irma de Jong 
Tel.: [phone] 
 E-mail: [e-mail] 
Website: www.directwonencorporate.com 
 
Collins Stewart (Nomad) 
Jon Drage, Stewart Wallace 
Tel: [phone] 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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