One of Denmark’s factoring industry leaders, Forenede Factors, has been bought from Den Danske Bank by the Netherlands company, NCM Holding NV. The acquisition was announced on 25 September 2000, but will be back-dated to 1 July 2000. The entirety of Forenede Factors’ share capital was bought from Den Danske Bank in the deal. The consideration was not disclosed.
The NCM Group includes the company NCM EKR Kreditforsikring which claims to be the market leader in the credit insurance industry in the Nordic region. NCM EKR are hoping that the purchase of Forenede Factors will complement this achievement, by enhancing their profile in the areas of debt financing and debt administration and also by increasing the number of financial and administrative services available to their clients.