Intrum Justitia increases its holding in Intrum á Íslandi

Intrum Justitia is increasing its holding in the Icelandic company Intrum á Íslandi from 25 percent to 33.3 percent. The acquisition is taking place after Kaupthing decided to sell its 25 percent interest to the other owners, who, in addition to Intrum Justitia, consist of Icelandic banks. The purchase price is set to approximately SEK 8.3 M.

“The Icelandic company was established in 1995 and is an associated company in the Intrum Justitia Group,” said Michael Wolf, President and CEO of Intrum Justitia. “They conduct business under our brand and it is a well-managed company that has grown rapidly in the Icelandic market. We are pleased to be able to increase our ownership interest and look forward to continue playing a role in the company’s development.”

Intrum á Íslandi ehf has revenues of SEK 158 million and 150 employees at offices in Reykjavik and around ten other locations. Its owners, each of which holds 33.3 percent, are Intrum Justitia, Landsbanki Íslands and the Icelandic savings banks Sparisjóðirnir.