The Competition Council authorized the transaction by which the Otto Group, through the companies EOS Credit Funding DAC and EOS Finance IFN S.A., intends to take over a portfolio of performing and non-performing loans from BRD Finance IFN S.A.
The receivables portfolio includes all receivables resulting from all loan contracts concluded by BRD Finance IFN S.A. with his customers.
BRD Finance IFN S.A., present on the market since 2004, has in its portfolio loans for the purchase of goods, credit cards, car loans and loans for personal needs.
EOS Finance and EOS Credit are part of the EOS Group, an international provider of personalized financial services. The main activity of the company is represented by the acquisition of secured and unsecured debt portfolios. The EOS Group, in turn, is part of the Otto Group, a global group of providers of e-commerce, retail and related services.
Following the analysis, the Competition Council found that this operation does not raise significant obstacles to effective competition on the Romanian market or on a substantial part of it and that there are no serious doubts regarding its compatibility with a normal competitive environment. The decision will be published on the website of the national competition authority, after the removal of confidential information.
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