Portfolio Recovery to acquire Aktiv Kapital for $880M, shares +4.9% AH

|By:, SA News Editor

Portfolio Recovery Associates (PRAA) +4.9% AH after agreeing to acquire Aktiv Kapital for $880M plus $435M of corporate debt, in a deal that will create one of the world's largest acquirers of non-performing consumer debt from banks and other creditors.

PRAA says Aktiv Kapital will provide it with access to sellers of consumer debt in new markets beyond the U.S. and the U.K., and a platform for growing investment in and servicing of consumer debt across Europe.

Earlier: Q4 earnings.