Reuters logo
Lender Paragon to buy asset finance brokerage Premier Asset Finance
October 3, 2016 / 6:31 AM / in a year

Lender Paragon to buy asset finance brokerage Premier Asset Finance

Oct 3 (Reuters) - British lender Paragon Group of Companies Plc said it would buy asset finance brokerage Premier Asset Finance Ltd.

** The initial cash consideration for the deal, which has received regulatory approval, is 8.5 million pounds ($10.99 million), Paragon said.

** The company said it would pay a further 12 million pounds over the next five years, subject to performance conditions.

** Paragon said it would pay for the deal using existing cash resources.

** Edinburgh-headquartered Premier sources more than 100 million pounds of lending every year to small and medium sized businesses, Paragon said. ($1 = 0.7731 pounds) (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Sunil Nair)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below