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Bulletin: Intrum's Nonperforming Loans Servicing Platform Acquisition In Greece Unlikely To Affect Deleveraging Path

Published Jun 03, 2019

2 pages (1123 words) — Published Jun 03, 2019

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Abstract:

FRANKFURT (S&P Global Ratings) June 3, 2019--S&P Global Ratings said today that Intrum AB (publ)'s acquisition of the Greek nonperforming loans (NPLs) servicing unit should not affect the geographically diversified debt collector's deleveraging path. On the morning of June 3, 2019, Sweden-based debt collector Intrum (BB+/Negative/B) announced its plans to acquire an 80% stake in the legal entity to be created as a result of Greece-based Piraeus Bank's disposal of its distressed debt servicing unit by fourth-quarter 2019. The Greek bank will become a minority shareholder, with a 20% stake. We understand Intrum will carry out this transaction with an upfront cash payment of €296 million on closing and an additional €32 million after 2022. We do not expect this

Report Type:

Bulletin

Issuer

Intrum AB (publ)

Sector

Global Issuers

Country

Sweden

Region

Europe, Middle East, Africa

Format:

PDF

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Bulletin: Intrum's Nonperforming Loans Servicing Platform Acquisition In Greece Unlikely To Affect Deleveraging Path" Jun 03, 2019. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Intrum-s-Nonperforming-Loans-Servicing-Platform-Acquisition-In-Greece-Unlikely-To-Affect-Deleveraging-Path-2242581>

APA:	S&P Global Ratings’ Credit Research. (). Bulletin: Intrum's Nonperforming Loans Servicing Platform Acquisition In Greece Unlikely To Affect Deleveraging Path Jun 03, 2019. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Intrum-s-Nonperforming-Loans-Servicing-Platform-Acquisition-In-Greece-Unlikely-To-Affect-Deleveraging-Path-2242581>

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