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Intrum Justitia to acquire NPL portfolio from Greece's Eurobank

Swedish credit services provider Intrum Justitia AB has entered into an agreement to acquire a nonperforming loan portfolio from Greek lender Eurobank Ergasias SA for a total investment of about 400 million Swedish kronor.

Intrum Justitia will use available cash and credit facilities to finance the transaction, the Swedish firm said Oct. 5.

Servicing of the portfolio, which consists of diversified unsecured consumer loans, will be outsourced to Eurobank-owned specialized lender FPS, although Intrum Justitia noted that it has the flexibility to find alternative servicing capacity in the future.

As of Oct. 4, US$1 was equivalent to 8.11 Swedish kronor.