Apr. 7, 2014, 4:28 PM
- Portfolio Recovery Associates (PRAA) moves closer getting the financing together for its acquisition of Aktiv Kapital, with the boosting of its credit facility to $842.5M from $628M.
- In addition to the financing, PRA says good progress has been made on the regulatory front and expects to close the deal this quarter.
- Press release
- Previously: Portfolio Recovery to acquire Aktiv Kapital for $880M,
Feb. 19, 2014, 5:50 PM
- 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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