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FORT WORTH, Texas--( COMPANY WIRE )--Cash America Overseas, Inc. (NYSE: CSH) announced today so it has finished the formerly established purchase of significantly most of the assets of Maxit Financial, LLC (“Maxit”). Maxit owned and operated a chain that is 39-store of financing places comprising 29 places into the state of Washington and 10 areas when you look at the state of Arizona running underneath the manufacturers of Pawn X-Change and Maxit, correspondingly. The acquisition increases money America’s shop count both in among these areas, where it previously had 5 pawn places in Washington and 11 Company-owned and 7 franchised places in Arizona.
Commenting regarding the Maxit purchase, Daniel R. Feehan, President and ceo of money America said, “We are pleased to possess had the oppertunity to perform this transaction inside our anticipated time period. Our company is pleased to incorporate the team that is talented of to your company. We have been additionally worked up about incorporating a big selection of pawn lending areas in Washington and Arizona cash that is strengthening leadership position both in of those areas additionally the nation.”
The last regards to the acquisition were in keeping with the sooner announced asset purchase agreement. At closing, money America funded about $70.0 million for considerably all the assets of Maxit and different changes and products pertaining to the deal per the regards to the asset purchase contract.
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