Intrum Justitia acquires Nice Invest Nordic AB which focuses on purchased debt in post-order and e-trading

Intrum Justitia acquires Nice Invest Nordic AB which focuses on
purchased debt in post-order and e-trading

Intrum Justitia strengthens its market position in Sweden by acquiring
Nice Invest Nordic AB, which focuses on investing in purchased debt from
customers in post-order and e-trading and in financial receivables
arising in such operations. The acquisition entails an existing
portfolio, as well as an agreement covering forward flow contracts. The
total purchase price amounts to around SEK 290 M.

“With the acquisition of Nice Invest Nordic, we are making a substantial
investment in purchased debt in Sweden and Finland. Nice Invest Nordic's
customers are mainly post-order and e-trading companies, a segment in
which we haven't been particularly strong previously. We are now
strengthening our position in the e-trading segment considerably. In
addition, we are increasing our revenues in Purchased Debt, which is an
important objective for us,” says Rickard Westlund, Regional Managing
Director, Northern Europe.
The acquisition entails Intrum Justitia acquiring Nice Invest Nordic
AB's existing purchased debt portfolios for SEK 175 M. Intrum Justitia
will also receive exclusive agreements for monthly purchases of forward
flows (credit that has been written off or passed maturity) for a total
capital sum of about SEK 915 M over the next five years. The agreements
involve investments in Sweden and Finland.
“Activity in the market for investment in purchased debt portfolios has
increased towards the end of 2010 and we believe there will continue to
be favorable opportunities for attractive investments over the next few
years. Our objective is to increase our rate of investment in this area
and the acquisition of Nice Invest Nordic is naturally a good indication
that we are on the right path,” says Lars Wollung, President and CEO of
Intrum Justitia AB.
The purchase sum totals approximately SEK 290 M, covering existing
portfolios and an advance payment for future monthly investments. The
complete portfolio has been analyzed and assessed in accordance with
Intrum Justitia's customary principles and return requirements. The
acquisition will be consolidated from December 31, 2010.
For further information, please contact:
Lars Wollung, CEO and President                        
Tel: +46 8 546 102 00
Rickard Westlund, Regional Managing Director, Northern Europe
Tel: +46 8 546 102 00
Annika Billberg, IR & Communications Director
Tel: + 46 8 546 102 03, + 46 702 67 97 91, a.billberg@intrum.com