Sweden’s Intrum to acquire Spain’s Solvia for $339.3 million

Swedish credit management and financial services provider Intrum is planning to acquire Spanish lender Banco Sabadell's real estate unit, Solvia, for about 300 million euros ($339.3 million) to boost its position in the Spanish market.

With this acquisition, Intrum will enhance its position in the Spanish real estate market as combined with its existing Aktua real estate servicing unit.

The company will purchase 80 percent of the shares in Solvia and Banco Sabadell will retain the remainder 20 percent. As a result of the deal, Intrum will become one of the leading three players in Spain.

Intrum said that the move will support its long-term 2020 targets while delivering strong cash flows and will add to its earnings per share.