Intrum and Piraeus Bank close transaction and create leading credit management services platform in Greece

Following customary regulatory approvals, Intrum and Piraeus Bank have closed the transaction, first announced in June, that creates a leading management services platform in Greece. The transaction is a long-term strategic partnership, with Piraeus Bank owning 20 per cent of the shares in the new company.Under the terms of the transaction, Intrum has acquired Piraeus Bank's platform for servicing non-performing loans and consolidated it into a newly established company, which will be named Intrum Hellas. Intrum owns 80 per cent of the shares in Intrum Hellas, with Piraeus Bank owning the