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Intrum Justitia to acquire Italian credit management firm CAF

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Intrum Justitia to acquire Italian credit management firm CAF

Swedish credit services provider Intrum Justitia AB agreed to acquire CAF SpA and a diversified debt portfolio serviced by the Italian credit management company from affiliates of U.S. private equity firm Lone Star Funds.

The total purchase price of the acquisition of CAF on a cash and debt free basis and the debt portfolio is about €200 million. Intrum Justitia noted it will finance the deal from its available cash and credit facilities.

The debt portfolio consists of a large number of both unsecured and secured debts with consumers and small- and medium-sized enterprises. The transaction, which will see CAF become a part of Intrum Justitia's western and southern European region, is expected to complete during late 2017.

CAF, which services nonperforming loans in Italy, has about 200 employees. The company's service business is expected to have revenues of about €30 million and an EBITDA of about €11 million in 2018, excluding returns on investment portfolios.

In June, the European Commission approved the acquisition of Intrum Justitia by Nordic Capital Ltd.