The company, which last year acquired Elliott-backed rival Gardant as the industry consolidates in the face of thinning new bad loan flows from banks, said the Santander accord had an initial two-year duration but could be extended.
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Manuela Franchi, doValue CEO, told Reuters the deal struck in the “competitive Spanish market” allowed the group to “focus on higher-margin asset classes.”
The agreement does not require an upfront payment, the company said, without providing other financial details.
During the year, doValue has signed new contracts to manage more than 12 billion euros in loans, ahead of forecasts, Franchi said.
Franchi said doValue expected to close in January its 350 million euro acquisition of Coeo, a German debt recovery firm powered by artificial intelligence serving blue-chip clients across eight European markets.
“We also moved at record speed on integrating Gardant, which will soon be completed,” she said.
“It’s been a record year that positions us well for 2026, when we will unveil a new three-year plan reflecting our pan-European scope and diversification after recent acquisitions,” she added.
Reporting by Valentina Za
Editing by Tomasz Janowski
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