Sweden's Hoist Finance AB (publ) acquired a portfolio of nonperforming mortgages in France with an outstanding balance of about €375 million.

Although it did not name the seller, Hoist Finance said Dec. 16 that the portfolio was from one of the major banks in France.

The deal marks the biggest portfolio investment for Hoist Finance, with the nonperforming mortgage book comprising more than 3,500 claims, it said.