PRA Agrees to Acquire Aktiv Kapital for $880 Million
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Portfolio Recovery Assoc. (PRAA) to Acquire Aktiv Kapital in $1.3B Deal
February 19, 2014 4:46 PM ESTPortfolio Recovery Associates, Inc. (Nasdaq: PRAA) has agreed to acquire Aktiv Kapital AS, a Norway-based company specializing in the acquisition and servicing of non-performing consumer loans throughout Europe and in Canada.
PRA agreed to acquire the equity interest in Aktiv Kapital for approximately $880 million, while also agreeing to assume approximately $435 million of its corporate debt, resulting in an acquisition of estimated total enterprise value of $1.3 billion.
PRA is expected to finance this transaction with a combination of cash; $170 million of seller financing; $435 million from PRA's domestic, revolving credit facility;... More
