The Argentine unit of French insurer Coface has acquired local receivables management firm Servicing, the insurer said in a statement.
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The move is part of Coface's strategy of increasing its presence in four main business lines: credit insurance, factoring, business rating and receivables management, the company said, without revealing the price of the deal.
The insurer also affirmed its goal of opening its factoring business by the end of the year after pushing back plans to have this business open in the first half.
Coface is part of French bank Natixis.
