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Mexican Billionaire Buys Advance America, Premier Payday Lender In U.S.

Mexican Billionaire Buys Advance America, Premier Payday Lender In U.S.

Mexican Billionaire Buys Advance America, Premier Payday Lender In U.S.

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Mexican billionaire Ricardo Salinas Pliego is beginning for business in to the U.S.: their Grupo Elektra announced Monday morning its effective purchase of Advance America–the biggest lender that is payday the U.S.

Stockholders authorized the $780 million cost Grupo Elektra for sale in February, a figure including all outstanding stocks concerning the company this is certainly american payment bad credit installment loans concerning the organization’s obligation that is financial. You will observe no instant modifications to your company that is us operations, and CEO Patrick O’Shaugnessey has made a decision to stay glued to board, claims Elektra spokesman Daniel McCosh.

Grupo Elektra ranks 802 on our group of the planet’s Biggest Public organizations, and its own latest purchase seems an ordinary complement Salinas’ profile of profitable companies. A television section, a mobile phone company, and their bank in Mexico, Salinas https://paydayloanservice.net/installment-loans-nh/ oversees their family-founded Elektra retail string, which sells washers and dryers at low regular prices plus interest, along with a respected bike scooter plant. About ten years ago, Salinas established Banco Azteca branches inside their Elektra shops and began supplying solutions that are economic Mexico’s bad. Lendees can join credit purchasing a dishwasher, and sometimes even a loan that is personal spend cash for medical expenses–at 50 to 60 percent interest levels. Read More