July 07, 2023 07:39 
Schoenherr și Asociații SCA advised DDM Holding AG (DDM) on the acquisition of a non-performing loans (NPL) portfolio from Intrum AB (Intrum). The portfolio contains unsecured consumer receivables and has a face value of over EUR 1bln. The servicing of the portfolio will be performed by AxFina, part of the DDM group. With this transaction, Intrum will exit the Romanian market, as part of its strategic priorities to reduce the number of its jurisdictions, and simplify and focus its geographical footprint.
The Schoenherr banking & finance, corporate/M&A and competition, EU & foreign trade teams have worked together in advising the buyer on this transaction. The deal is expected to close in late Q3 2023 following clearance by the Romanian competition and FDI authorities.
"This is one of the largest NPL portfolios, by face value, transacted in recent years in Romania. We are glad to have supported DDM with this strategic opportunity and would like to thank the DDM team for an excellent collaboration in making this investment happen", said Schoenherr partner Mădălina Neagu.
DDM is a specialised multinational investor in situations arising out of the general strategic challenges in the European banking markets. This includes investments in assets and companies previously held by financial institutions, including performing and non-performing loans and special situations.
Intrum is an industry-leading provider of credit management services, with a presence in 24 markets in Europe. By helping companies to get paid and support people with their late payments, Intrum leads the way to a sound economy. Its approx. 10,000 dedicated professionals serve around 80,000 companies.
The Schoenherr team advising on this transaction was led by Mădălina Neagu (partner) and Matei Florea (partner) and further consisted of Alexandra Pop (senior attorney at law), Mihaela Popescu (senior attorney at law), as well as Georgiana Bădescu (partner) and Cristiana Manea (senior attorney at law) on competition law matters and FDI screening.
DLA Piper’s office in Bucharest assisted Intrum AB, on exiting its Romanian operations. Supervised by Paula Corban-Pelin (Partner), the project has been coordinated by Bogdan Buta(Senior Associate), with assistance from Răzvan Pele (Counsel).
