DLA Piper assisted Intrum Group in the sale to DDM Group AG of its NPL portfolio in Romania
DLA Piper’s office in Bucharest assisted Intrum AB, the Swedish Credit Management Services company, on exiting its Romanian operations through the sale of its NPL portfolio containing unsecured consumer receivables to DDM Group AG, for a cash consideration of EUR17.3 million. Expected to be completed in the third quarter of 2023, pending regulatory approvals, the deal is part of Intrum AB’s global strategy priorities to simplify and focus its geographical footprint. In the same context, Intrum AB has also announced the sale of its servicing platforms and investment portfolio in the Baltics region.
This latest development in Romania follows the previously announced exit from Brazil, which reduces Intrum AB's total number of jurisdictions from 25 to 20.
Niklas Lundquist, Chief Legal Officer Intrum AB, mentioned: “We work with DLA Piper across several jurisdictions and we are happy with the quality of services and responsiveness. The Romanian DLA Piper team has been instrumental to our efforts to conclude this transaction”.
Supervised by Paula Corban-Pelin, Partner, the project has been coordinated throughout all stages by Bogdan Buta, Senior Associate, with assistance from Răzvan Pele, Counsel.
Commenting on the successful transaction, Paula Corban-Pelin said: “We are thankful for having the opportunity to assist Intrum AB in this ambitious project. Financial Services is one of our key sectors and advising a global player as Intrum AB comes with great satisfaction. I want to thank our DLA Piper team, the #1 deal maker for the thirteenth year, and I am also grateful for the support we received from our client’s team throughout the project”.