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Report: Intrum launches bid for debt management business of Italy's Cerved

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Report: Intrum launches bid for debt management business of Italy's Cerved

Swedish debt collector Intrum AB (publ) submitted a cash offer for Cerved Group SpA's debt management division through its Italian arm, Reuters reported, citing two sources familiar with the matter.

The Cerved unit could be worth roughly €400 million, according to the Dec. 18 report.

Credito Fondiario SpA had contemplated a share swap offer for the unit but decided to hold off submitting a bid, two sources said, adding that the Italian bank may make a move depending on the result of the talks between Intrum and Cerved.

Cerved's board is set to examine Intrum's bid Dec. 19, one person said.

In September, Cerved appointed Mediobanca - Banca di Credito Finanziario SpA to evaluate potential strategic alternatives for the unit. Swedish debt collector Intrum is the only entity to bid for the Cerved unit since the Italian group said in October that it planned to consolidate the division.