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 EUR 17.3 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.
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).
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″.
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″.
Bogdan Buta added: ″Advising Intrum AB has been a challenging and rewarding experience, especially given the high level of professionalism from our client.″
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.
About DLA Piper
DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, positioning us to help clients with their legal needs around the world.
