Intrum Justitia’s board, the banks and short sellers are the only ones to have gained from the debt collection company’s merger with Lindorf, reports Dagens Industri (DI). The board’s fees have been raised by 20% while shareholders have seen the value of their holdings fall by as much in the past ten weeks.
In order to meet EU regulation, Intrum Justitia is having to divest a number of units. “It’s a buyer’s market – everyone knows that Intrum has just six months in which to sell the units. And they have paid excessive fees to their advisors, while short sellers love the share,” say experts to the business daily.