Intrum Justitia completes acquisition of Polish debt portfolio
In April, Intrum Justitia announced that it had won an auction process for a large Polish debt portfolio. On May 29th 2012 the purchase agreement has been signed, whereby Intrum Justitia has acquired a portfolio of non-performing consumer loans with an aggregate outstanding value of about PLN 700 M at a purchase price of approximately 20% of the outstanding value of the portfolio. This transaction will be completed on the day of the purchase price payment, which will occur within the next few days. The seller of the portfolio is PKO Bank Polski, one of the largest banks in Poland.
“We have seen a very good development in our Polish business in the past years. This transaction further strengthens our market position for purchased debt and marks a strategically important inroad on the large Polish bank market for purchased debt.”, says Lars Wollung, President and CEO of Intrum Justitia.
The analysis and evaluation of the entire portfolio has been conducted in accordance with Intrum Justitia's regular principles and yield requirements.
For further information, please contact:
Lars Wollung, CEO & President
Tel: +46 8 546 102 02
Erik Forsberg, CFO
Tel: +46 8 546 102 02, E-mail: e.forsberg@ intrum.com
Annika Billberg, IR & Communications Director
Tel: +46 702 67 97 91, E-mail: firstname.lastname@example.org
Intrum Justitia is Europe’s leading Credit Management Services (CMS) group and offers services designed to measurably improve clients’ cash flows and long-term profitability. Intrum Justitia was founded in 1923, has around 3,100 employees in 22 countries and revenues of approximately SEK 3.8 billion in 2010. Intrum Justitia AB is listed on NASDAQ OMX Stockholm since 2002. For further information, please visit www.intrum.com