Intrum – Further negative adjustments of c. SEK 4.3 bn in the Italian SPV following sale of co-investor exposure to Kistefos Investment AS (“Kistefos”)
Funds managed by AB CarVal Investors, L.P (“AB CarVal”) have agreed to sell their 37.5% exposure in the jointly managed Italian SPV (“SPV”), which owns the portfolio that Intrum, together with partners, acquired in 2018, to Kistefos for a consideration of SEK 109 M. In the context of the transaction Intrum AB (publ) (“Intrum”) has entered into a new joint control co-investment agreement with Kistefos and has settled a derivative agreement with AB Carval.As this is an arm’s length transaction between unrelated parties and therefore objective evidence, Intrum will reflect this valuation in