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Duo Bank of Canada wraps up Fairstone Financial acquisition

Jan 06, 2021 - Marketline Newswire
Mergers and Acquisitions

Duo Bank of Canada has completed the acquisition of all outstanding shares of subprime lender Fairstone Financial Holdings.

Duo Bank first brokered a deal to purchase Fairstone Financial from investment firms J.C. Flowers & Co and Varde Partners, back in February last year. Fairstone Financial is a responsible credit solutions provider for near-prime borrowers with assets worth over $3bn, on a consolidated basis.

It is based in Montreal, Quebec. As per the agreed terms, Duo Bank has...