Completion of the acquisition of PQH’s Aeolus portfolio by Intrum

The transfer of the Aeolus portfolio from PQH Single Special Liquidator S.A. to Intrum Group – via Intrum Hellas Designated Activity Company (DAC) being the special purpose vehicle – has been successfully completed. Following the signing of the relevant agreement, servicing of the portfolio has been assigned to Intrum Hellas, the leading licensed debt servicer in Greece.

Mr. Akis Bis, Vice Chairman and Managing Director of Intrum Investments Greece, stated: “By successfully completing the acquisition of the Aeolus portfolio, we confirm our sustained investment interest and our commitment to continue to support the Greek market and economy, which is of strategic importance to Intrum Group, as it is among the largest European markets for non-performing loans”.

Mr. George Georgakopoulos, Managing Director at Intrum Hellas and member of Intrum Group’s Management Team, whilst commenting on the closure of the transaction stated the following: “Intrum Group’s expertise and know-how, the use of modern debt receivables management tools along with our significant experience and excellent performance in 24 markets across Europe, constitute our strategic advantages. We manage all our portfolios having in mind the long-term sustainability of the borrowers, supporting also the recovery of the Greek economy, especially now amidst these difficult conditions due to the COVID-19 pandemic”.

Aeolus portfolio comprises of unsecured retail and small business non-performing loans with a gross book value of €1.1bn and total outstanding legal claim of €2.4bn.

Bernitsas Law Firm served as legal advisor to Intrum.

• Intrum is the industry-leading provider of Credit Management Services with a presence in 24 markets in Europe. Intrum helps companies prosper by offering solutions designed to improve cash flows and long-term profitability and by caring for their customers. To ensure that individuals and companies get the support they need to become free from debt is one important part of the company’s mission. Intrum has around 10,000 dedicated professionals who serve around 80,000 companies across Europe. In 2019, the company generated revenues of SEK 16.0 billion. Intrum is headquartered in Stockholm, Sweden and the Intrum share is listed on the Nasdaq Stockholm exchange. For further information, please visit www.intrum.com.