Sorainen acted as the Estonian legal advisor to Intrum in divesting Lindorff’s business in Estonia along with Lindorff’s business in Denmark, Finland and Sweden as well as Intrum Justitia’s business in Norway to Lowell.
Offering debt collection and debt purchase as well as payment and invoicing services, the divested group operates in five markets and has approx 900 employees. The transaction values the divested group at EUR 730 million on an enterprise value basis.
The transaction, which requires approval from the European Commission as well as local regulatory and competition authorities, is expected to close in the first half of 2018.
Sorainen advised Intrum throughout the divestment on legal questions related to Estonian operations. The Sorainen team was led by partner Toomas Prangli and associate Kai Vainola.