VION Receivable Investments (VION), through VION Europa, is pleased to announce its acquisition of receivables on the Iberian Peninsula. VION Europa has acquired approximately €850M (US $1.1B) in consumer and commercial receivables from a multi-region Spanish bank. Responding to the bank´s need to raise capital, VION was able to structure a transaction that met the interests of both parties.
"VION is value-based, opportunistic investor," said Stacey Schacter, CEO of VION. "This acquisition demonstrates our commitment to expanding our business model into Spain and the European Union."
Patrick Napoli, Principal of VION Europa, added, "The financial stress on the Iberian Peninsula has resulted in consolidations and need for increased liquidity by banks and Cajas throughout the region. With the successful deal structure established with this bank, we are confident that we can replicate the model with other banks throughout the region. Our goal is to establish VION Europa as a high-quality option in helping institutions meet critical liquidity requirements."
For more information about VION Europa, please contact Patrick Napoli at +34 91 418 69 00 (office), 302-743-1229 (cell), or by email at pnapoli@vioninv.com.
About VION Receivable Investments
VION Receivable Investments, headquartered in Atlanta, Georgia, is an international provider of receivable investment services to businesses managing consumer and commercial receivables. VION provides a single, comprehensive source of expertise in receivable financing, purchasing, process consulting, and valuation. For more information, please visit vioninv.com or contact Larry L. Curran, II at (970) 672-8775 or email to lcurran@vioninv.com.
