- CURO Group ( NYSE: CURO ) completed the divestiture of its Legacy U.S. Direct Lending business to Community Choice Financial ( CCFI ), a consumer financial services company based in Dublin, Ohio, for total cash consideration of $345M.
- The consideration includes $310 million in cash paid at closing and $35 million payable over the next 12 months.
- The company also announced that it expects to complete the previously announced acquisition of First Heritage Credit by July 15, 2022 on terms consistent with the May 19, 2022 transaction announcement.
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“We are pleased to announce the closing of the sale of our legacy US Direct Lending business to Community Choice. We thank the more than 1,700 employees of these operations for their work for CURO and we are confident that Community Choice will be an excellent owner and operator of these businesses.” said Don Gayhardt, Chief Executive Officer.
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CURO closes the sale of legacy U.S. direct lending business