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Abanka completes sale of factoring unit to German firm

Abanka d.d. said Dec. 15 that it completed the sale of its wholly owned factoring unit, Afaktor d.o.o., to Germany-based A.B.S. Global Factoring AG on Dec. 14 for an undisclosed sum.

The Slovenian lender announced the sale in June, with its leasing unit Aleasing d.o.o. also up for grabs. The offer also included the entire lending exposure of the businesses.

Abanka served as financial consultant on the search for a strategic investor for the business.

Factoring is a process by which a company sells its trade receivables to a factoring partner in return for immediate liquidity.