18
Tue, Jun
79 New Articles

Schoenherr and DLA Piper Advise on DDM Acquisition of Intrum's NPL Portfolio in Romania

Schoenherr and DLA Piper Advise on DDM Acquisition of Intrum's NPL Portfolio in Romania

Romania
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Schoenherr has advised DDM Holding on the acquisition of a non-performing loan portfolio with a face value of over EUR 1 billion from Intrum. DLA Piper advised Intrum on the sale and its exit from the Romanian market.

The transaction remains contingent on regulatory approval.

According to Schoenherr, “the portfolio contains unsecured consumer receivables and has a face value of over EUR 1 billion. 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.”

Intrum is a provider of credit management services with a presence in 24 markets in Europe.

According to Schoenherr, DDM is a specialized multinational investor in situations arising out of the general strategic challenges in the European banking markets, including investments in assets and companies previously held by financial institutions, performing and non-performing loans, and special situations.

The Schoenherr team included Partners Madalina Neagu, Matei Florea, and Georgiana Badescu and Senior Attorneys at Law Alexandra Pop, Mihaela Popescu, and Cristiana Manea.

The DLA Piper team included Partner Paula Corban-Pelin, Counsel Razvan Pele, and Senior Associate Bogdan Buta.

Romanian Knowledge Partner

Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

Firm's website.

Our Latest Issue