Intrum announces SEK 11.5 billion asset sale to Cerberus, raising liquidity and progressing toward capital-light business model
Intrum AB (publ) has agreed to sell a material portion of its investment portfolio to affiliates of Cerberus Capital Management L.P. (“Cerberus”) for approximately 98 percent of book value as per economic transfer date, 30 September 2023. Intrum will retain a 35 percent ownership stake in the purchasing entity (the “Investor”) owning these assets and has entered into a minimum of 5-year exclusive agreement to retain the servicing of the full portfolio. Intrum’s expected net proceeds at closing, of SEK 8.2 billion, will be used in full to reduce debt.Highlights of the transaction ·