Intrum Justitia acquires large written-off bank loan portfolio in Spain

Intrum Justitia announces that it and Goldman Sachs have jointly entered an agreement to purchase an unsecured written-off bank loan portfolio from one of Spain’s leading banks. The portfolio comprises non-performing loans with an aggregate outstanding principal and interest value of approximately EUR 1.4 billion. The parties have agreed not to disclose the identity of the seller nor the purchase price for this portfolio. "This is the second purchase executed by our joint venture with Goldman Sachs”, says Jan Roxendal, President and CEO of Intrum Justitia. “This Spanish portfolio is larger than the British portfolio we acquired last year. “The combination of our own resources and the two joint ventures with our strong partners makes Intrum Justitia flexible and agile and we have been more active in the field of Purchased Debt in 2005. This acquisition is included in the SEK 400 M investments in written-off receivables during the third quarter of 2005 as mentioned in our latest interim report ”, comments Jan Roxendal. Intrum Justitia has established joint venture co-operations for significant investments in debt purchase with CALYON (Crédit Agricole Group) and with Goldman Sachs. For further information, please contact: Anders Antonsson, Director of Communications Tel: +46 (0)8 546 102 06, mobile: +46 (0)70 336 7818 E-mail: a.antonsson@se.intrum.com

About Us

Intrum is the industry-leading provider of Credit Management Services with a presence in 24 markets in Europe. Intrum helps companies prosper by offering solutions designed to improve cash flows and long-term profitability and by caring for their customers. To ensure that individuals and companies get the support they need to become free from debt is one important part of the company’s mission. Intrum has more than 8,000 dedicated and empathetic professionals who serve about 80,000 companies across Europe. In 2017, pro-forma revenues amounted to SEK 12.2 billion. Intrum is headquartered in Stockholm, Sweden and the Intrum share is listed on the Nasdaq Stockholm exchange. For further information, please visit www.intrum.com.

Subscribe

Documents & Links