The Norwegian group Zolva sold to the US fund Cerberus its servicer in Spain, with a presence in Portugal through a branch office, and of a portfolio of €6 billion euros par value in unsecured NPLs.

Legal law office Cuatrecasas has advised Zolva in this process, in which some of the main players in the sector participated, concluded on August 1, with the U.S. fund Cerberus as the successful bidder. With the closing of this double transaction, Zolva completes its divestment plans in its debt recovery, paperwork management and legal businesses in the Iberian Peninsula.

For Cerberus, the acquisition of Zolva reinforces its strategic commitment to the Iberian market and its capacity to provide comprehensive services in the sector, adding almost 350 employees to its current workforce.

Original Story: Iberian Lawyer
Edition: Prime Yield