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CORDET has provided a loan to ABAX AS

CORDET has provided a loan to ABAX AS

CORDET has provided a loan to ABAX AS ({"ABAX"), a portfolio company of Norvestor Capital. The purpose of the financing package is to support the refinancing of existing debt and provide growth capital.

Founded in Larvik, Norway in 2003, ABAX is a leading provider of technology to track, monitor and report personal use of company vehicles. ABAX’s products help minimise the customer’s exposure to risk of penalties from tax authorities and enable them to cut costs by recharging their employees a share of fuel, insurance and maintenance costs.