Sergel expands to the Baltics
Sergel Kredittjänster acquires UAB Creditcollect of Lithuania. Sergel is a wholly-owned subsidiary of TeliaSonera, is one of the leading companies in the debt collection industry in the Nordic countries. “Our expansion in the Nordic countries has been successful, and the Baltic countries are the natural next step for us,” says Magnus Melberg, CEO, Sergel Kredittjänster.
Sergel aims at becoming a leader on the Nordic and Baltic markets. Sergel started its operations in Sweden in 1988. In 1998, the company expanded to Denmark. In 2006, Sergel launched its operations in Finland, and last year the company acquired Moneto Kapital AS in Norway. The acquisition of UAB Creditcollect is the first acquisition on the Baltic markets but will be followed by others. UAB Creditcollect provides accounts receivable, collection and debt surveillance services to transaction-intensive companies.
“The acquisition of UAB Creditcollect makes us directly one of the leading players on a rapidly growing market. At the same time, we can now provide our global customers with services through our own company in yet another country,” says Magnus Melberg.
TeliaSonera AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instrument Trading Act. The information was submitted for publication at 9 am CET on March 26, 2008.
For further information journalists can contact:
Magnus Melberg, CEO, Sergel Kredittjänster AB, +46 70 680 41 70
Sergel is a leading provider of debt collection services. The company provides credit scoring, billing, accounts receivable, collection and debt surveillance services to transaction-intensive companies that place stringent demands on quality and customer service. The company’s main market area consists of the Nordic and Baltic countries. Sergel employs about 350 people, and the company’s net sales amounted to SEK 453 million in 2007. Sergel was established in 1988 and is owned by TeliaSonera.
UAB Creditcollect was established in 1999 and it is the market leader in debt collection services in Lithuania. Until March 2006, the company was known as JSC Žvilgsnis iš arčiau. The company’s customers include banks, insurance companies, and other transaction-intensive businesses.
Statements made in the press release relating to future status or circumstances, including future performance and other trend projections are forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by these forward-looking statements due to many factors, many of which are outside the control of TeliaSonera.