Portfolio Recovery Associates (PRAA) Acquires U.K. Debt Collecting Group Mackenzie Hall
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Portfolio Recovery Associates, Inc. (Nasdaq: PRAA), has acquired Mackenzie Hall Holdings Ltd., a leading UK debt collection and purchase group.
Under the terms of the transaction, Portfolio Recovery Associates (PRA) purchased 100% of the equity interest in Mackenzie Hall Holdings, Ltd. for a maximum price of €33.5 million (approximately $51 million) in cash. PRA anticipates the acquisition will be immediately accretive to earnings. The Company intends to discuss the acquisition further during its fourth quarter 2011 earnings call.
Under the terms of the transaction, Portfolio Recovery Associates (PRA) purchased 100% of the equity interest in Mackenzie Hall Holdings, Ltd. for a maximum price of €33.5 million (approximately $51 million) in cash. PRA anticipates the acquisition will be immediately accretive to earnings. The Company intends to discuss the acquisition further during its fourth quarter 2011 earnings call.
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