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Intrum — Earnings Release 2012
May 29, 2012
2930_rns_2012-05-29_d9800913-4518-47da-990a-62ae2d107b56.pdf
Earnings Release
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Stockholm 29 May 2012 (page 1 of 1)
PRESSRELEASE
Intrum Justitia AB (publ) Corporate identity no.:556607-7581
Intrum Justitia may be required to disclose the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The information was provided for public release on Tuesday May 29, 2012 at 4:30 p.m. CET.
Intrum Justitia completes acquisition of Polish debt portfolio
In April, Intrum Justitia announced that it had won an auction process for a large Polish debt portfolio. On May 29th 2012 the purchase agreement has been signed, whereby Intrum Justitia has acquired a portfolio of non-performing consumer loans with an aggregate outstanding value of about PLN 700 M at a purchase price of approximately 20% of the outstanding value of the portfolio. This transaction will be completed on the day of the purchase price payment, which will occur within the next few days. The seller of the portfolio is PKO Bank Polski, one of the largest banks in Poland.
"We have seen a very good development in our Polish business in the past years. This transaction further strengthens our market position for purchased debt and marks a strategically important inroad on the large Polish bank market for purchased debt.", says Lars Wollung, President and CEO of Intrum Justitia.
The analysis and evaluation of the entire portfolio has been conducted in accordance with Intrum Justitia's regular principles and yield requirements.
For further information, please contact:
Lars Wollung, CEO & President Tel: +46 8 546 102 02
Erik Forsberg, CFO Tel: +46 8 546 102 02, E-mail: e.forsberg@ intrum.com
Annika Billberg, IR & Communications Director Tel: +46 702 67 97 91, E-mail: [email protected]
Intrum Justitia is Europe's leading Credit Management Services (CMS) group, offering comprehensive services, including purchase of receivables, designed to measurably improve clients' cash flows and long-term profitability. Founded in 1923, Intrum Justitia has some 3,300 employees in 20 markets. Consolidated revenues amounted to around SEK 4 billion in 2011. Intrum Justitia AB is listed on NASDAQ OMX Stockholm since 2002. For further information, please visit www.intrum.com