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Duo Bank of Canada to acquire Sell Fairstone Financial

Feb 20, 2020 - Marketline Newswire
Mergers and Acquisitions

Duo Bank of Canada has brokered a deal to purchase subprime lender Fairstone Financial from investment firms J.C. Flowers & Co and Värde Partners.

The financial details of the transaction have not been made public. The deal includes all operating subsidiaries of Fairstone Financial as well as its 1,400 plus employees. Fairstone lends directly to consumers and finances consumer credit through a network of 239 branches. It has over $3bn in assets on a consolidated basis. J.C. Flowers mana...