Credit, Collections & Insolvency News
The European Commission has approved the combination of Intrum Justitia and Lindorff. The Commission’s decision is conditional upon the divestment of Lindorff’s business in Denmark, Estonia, Finland and Sweden as well as Intrum Justitia’s business in Norway (see press release dated May 18, 2017 for more information).
The combined company will, through its scale and diversification, be ideally positioned to capture the strong market growth in the Credit Management Services industry. By joining forces, both local and global clients will benefit from a strong pan-European platform, enhanced service offering, innovative solutions and best in class compliance.
Lars Lundquist, Chairman of the Board in Intrum Justitia said “I am very pleased that the combination of these two strong companies has now been approved and that we are able to close the transaction as planned. The combined business has the potential to deliver significant value to clients, shareholders and society by creating a very well-positioned and respected player in our industry both in terms of skill and geographic spread,” .
Mikael Ericson, CEO & President of Intrum Justitia said “I am dedicated to the success of this combination and I am of course thrilled that we now have the necessary approval from the European Commission. Realising the full potential of the combined company will be a team effort which I am proud to lead once the transaction is closed.”
The transaction is expected to close within the next 10 working days. Lindorff will be consolidated into the financial statements of Intrum Justitia from late June 2017.
