Credit Corp announces the acquisition of the Cashfirst branded consumer loan book and associated assets from Thorn Group Limited (ASX:TGA) for a total consideration of $13.3m.
Mr Thomas Beregi, CEO of Credit Corp, said the transaction would positively impact earnings in fiscal years 2018 and 2019. 'The acquisition of the loan book will produce an acceptable return and the other assets will enhance this. The transaction demonstrates our ability to use our unrivalled financial capacity to seize unique opportunities, while exercising investment discipline in an environment of elevated pricing in the traditional domestic debt purchasing market' he said.
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Credit Corp Group Limited published this content on 30 January 2018 and is solely responsible for the information contained herein.
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Original documenthttps://www.creditcorp.com.au/corporate/news/credit-corp-reports-first-half-profit-growth-of-18/
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