The financially strained debt collection company Intrum has entered into a new investment agreement with a subsidiary of Cerberus Capital Management, writes Intrum in a press release.
The target is set on investments in portfolios of problematic consumer loans.
"Intrum and Cerberus intend to invest up to 1 billion euros per year together, depending on market conditions. Cerberus will provide 70 percent of the capital and Intrum 30 percent, where Intrum can reduce its investment level under certain conditions", writes Intrum.
Intrum has recently sold part of its investment portfolio to a Cerberus company, a transaction that generated 7.2 billion in net liquidity.
