Lindorff Group AB completed the acquisition of 80% stake in Solvia Servicios Inmobiliarios, S.L. from Banco de Sabadell, S.A..

Lindorff Group AB agreed to acquire 80% stake in Solvia Servicios Inmobiliarios, S.L. from Banco de Sabadell, S.A. (BME:SAB) for €240 million on December 14, 2018. The transaction has an enterprise value of approximately €300 million. Banco Sabadell will retain the remaining 20% stake. The deal will be funded through existing facilities and available liquidity with an initial payment of approximately €190 million in Quarter 1 of 2019 and a deferred payment of approximately €50 million to follow in 2022. The transaction is conditional upon customary approvals by authorities and is expected to close during Quarter 1 of 2019. The transaction is supportive of Intrum’s long term 2020 targets; it is EPS (earnings per share) accretive, and delivers strong cash flows which will reduce Net Debt/EBITDA in 2020. Fernando Azofra, Victor Viana, David López Pombo, Leticia López-Lapuente, Sergio Ponce, Alfonso Gutiérrez, Javier Redonet, Isabel Aguilar, Javier Villanueva, Cristina Puerta, Marcos Fraile, Alejandro Linares, Alvaro Nieto and Juan Rodríguez of Uría Menéndez Abogados, S.L.P. acted as legal advisor to Banco de Sabadell, S.A.. Ernst & Young acted as financial advisor to Lindorff Group AB. KPMG acted as due diligence provider to Banco Sabadell, S.A. Lindorff Group AB completed the acquisition of 80% stake in Solvia Servicios Inmobiliarios, S.L. from Banco de Sabadell, S.A. (BME:SAB) on April 23, 2019.