Waselius advised the financing provider in the Finnish law aspects of the sale by Intrum AB (publ) of a material portion of its investment portfolio to affiliates of Cerberus Capital Management L.P. for approximately 98 percent of book value. The transaction involves over 10,000 portfolios with a nominal value of SEK 382 billion (EUR 33 billion) and a book value of SEK 11.5 billion (EUR 1.0 billion) as of 30 September 2023. Intrum retains a 35 percent ownership stake in the purchasing entity owning these assets and has entered into a minimum of 5-year exclusive agreement to retain the servicing of the full portfolio.
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