Intrum, a debt collection company, agreed to acquire the Recovery Management Services platform of Piraeus Bank, a Greek multinational financial services company, for £262m. "The acquisition is in line with our strategy and represents a significant strategic step for Intrum further into Greece. The Greek market has been a high priority for us but given the challenges associated with a relatively under-developed market, despite the very large volumes of debt, it was crucial for us to find and work in a transparent, bilateral way with a constructive partner. We found this partner in Piraeus Bank," Mikael Ericson, Intrum President and CEO.