CURO Group Holdings Corp. to Sell Flexiti
03 Agosto 2023 - 5:00AM
Business Wire
CURO Group Holdings Corp. (NYSE: CURO) (“CURO”), a tech-enabled,
omni-channel consumer finance company serving consumers in the U.S.
and Canada, announced today that it has entered into a definitive
agreement to sell its Canadian point-of-sale business FLX Holding
Corp. (“Flexiti”) to Questrade Financial Group Inc., Canada’s
largest independent online brokerage, for a purchase price of
approximately C$55 million. The sale is expected to close in the
third quarter of 2023, subject to agreed closing conditions,
including receipt of required regulatory approvals.
“We are pleased that completion of this transaction will allow
us to increase our focus on our core Direct Lending business in
both the U.S. and Canada,” said Doug Clark, Chief Executive Officer
of CURO. “After reviewing multiple options, we concluded this
transaction offers compelling value to CURO, while better
positioning Flexiti with Questrade as its partner. We appreciate
the contributions the Flexiti team has made to CURO and wish them
success in the future.”
More information about this transaction can be found in the
“Events & Presentations” section of CURO’s Investor Relations
website at https://ir.curo.com/events-and-presentations
Advisors
Solomon Partners Securities, LLC served as financial advisor and
King & Spalding LLP and Norton Rose Fulbright Canada LLP served
as legal counsel to CURO. BMO Capital Markets served as financial
advisor and Bennett Jones LLP served as legal counsel to Questrade,
Inc.
About CURO
CURO Group Holdings Corp. (NYSE: CURO) is a leading consumer
credit lender serving U.S. and Canadian customers for over 25
years. Our roots in the consumer finance market run deep. We’ve
worked diligently to provide customers a variety of convenient,
easily accessible financial services. Our decades of diversified
data power a hard-to-replicate underwriting and scoring engine,
mitigating risk across the full spectrum of credit products. We
operate a number of brands including Cash Money®, LendDirect®,
Heights Finance, Southern Finance, Covington Credit, Quick Credit
and First Heritage Credit.
(CURO-NWS)
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version on businesswire.com: https://www.businesswire.com/news/home/20230802487817/en/
Investor Relations: Email:
IR@curo.com
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