Intrum - comment

In another deal funded by Cerberus Intrum are preparing to buy a €2bn portfolio from Hoist - right as the company is preparing to restructure its balance sheet. Management has been signalling that such deals would be core to their capital-light strategy going forward and maintenance of “AUM" is key to bondholder recovery. So we are generally supportive of the idea, as curious as its timing seems to be.

Wolfgang FelixINTRUM