Intrum Enters Into Partnership With Cerberus
July 16 (Reuters) -Intrum AB INTRUM.ST:
ENTERS INTO PARTNERSHIP WITH CERBERUS
SIGNED A TERM SHEET FOR AN INVESTMENT AGREEMENT WITH AN AFFILIATE OF CERBERUS CAPITAL MANAGEMENT, L.P. FOR FUTURE INVESTMENTS IN NPL PORTFOLIOS OF UNSECURED CONSUMER LOANS
AGREEMENT ALLOWS INTRUM TO SCALE UP ITS INVESTMENT ACTIVITIES WITHOUT INCREASING DEBT
INTRUM AND CERBERUS INTEND TO JOINTLY INVEST UP TO €1BN PER YEAR, DEPENDING ON MARKET CONDITIONS
CERBERUS ACCOUNTS FOR 70% OF THE CAPITAL AND INTRUM FOR 30%, WITH INTRUM ABLE TO REDUCE ITS INVESTMENT LEVEL UNDER CERTAIN CONDITIONS
Source text for Eikon: ID:nMFN5KjjyY
Further company coverage: INTRUM.ST
(Gdansk Newsroom)
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