April 18, 2018 12:34 pm

Intesa Sanpaolo: Swedish investor acquires NPL portfolio

As reported by the Frankfurter Allgemeine Zeitung in today’s print edition, the collection agency Intrum Justitia has acquired a large loan package from the Italian bank Intesa Sanpaolo. The face value of the NPL portfolio amounts to around 11 billion euros – the purchase price is expected to be around 3.1 billion euros. According to Reuters, the company additionally buys the collection business of Intesa Sanpaolo for another 500 million euros. The Intrum share rose just under 15 percent yesterday, Intesa did also slightly increase its value on the stock market. FAZ (p. 23), Reuters

This post was written by Jens Secker

(Image rights: istockphoto.com/Massimo Parisi)

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