Lone Star takes DFC Global private in $1.3bn deal


texas cattleTexas-based private equity firm Lone Star has agreed to buy financial services business DFC Global Corp in a $1.3bn take-private deal.

DFC shareholders will receive $9.50 per share, which is a premium of five per cent to the company’s closing price on Tuesday.

The offer has been approved by DFC’s board of directors and the deal is expected to close in the third quarter.

DFC Global chairman and CEO Jeff Weiss said, “Lone Star Funds is a sophisticated investor with broad-based financial and retail expertise, and we look forward to taking advantage of enhanced financial flexibility to find new ways to build our business while continuing to meet and exceed the needs of our global customer base.”

Earlier this year AltAssets reported that Lone Star launched a new vehicle with a $7bn target after closing two multi-billion funds over the past year.

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