Seeking Alpha

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

  • 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.
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