03 05 2016

Cash America International, Inc. merges with First Cash Financial Services, Inc.

Covington advised Jefferies LLC as financial advisor to Cash America International, Inc. in connection with its merger with First Cash Financial Services, Inc. The pro-forma market value of equity of the transaction is valued at approximately $2.4 billion.


Cash America International, Inc. provides specialty financial services. The Company offers non-recourse loans and short-term cash advances to individuals through its storefront locations in the United States. The company, led by Daniel R Feehan, T Brent Stuart, Thomas A Bessant, Victor L Pepe and Clint D Jaynes, is based in Fort Worth. First Cash Financial Services, Inc. operates pawn stores in North America. The Company's stores lend money on the collateral of pledged personal property, and retail previously-owned merchandise acquired through loan forfeitures. First Class Financial Services, led by Rick L Wessel, R Douglas Orr, Raul R Ramos, Sean D Moore and Peter H Watson, is based in Arlington. Following the close of the transaction, First Cash shareholders will own approximately 58% of the combined company, and Cash America shareholders will own approximately 42%. The Covington corporate team representing Jefferies LLC included partner J. D. Weinberg, with associates Silas Lum and Max Heuer.   Involved fees earner: J. D. Weinberg - Covington & Burling; Silas Lum - Covington & Burling; Max Heuer - Covington & Burling;

LATEST ISSUE
Powered by Share Trading

POPULAR ARTICLES
LE FONTI AWARDS 2018 CELEBRATES CORPORATE EXCELLENCES IN HONG KONG

29/03/2018

On March 23rd 2018, the world’s leading corporate stars reunited for a special

LE FONTI AWARDS 2017 CELEBRATES CORPORATE EXCELLENCES IN DUBAI

14/12/2017

On December 14th, 2017, the world’s leading corporate stars reunited for a spec

LE FONTI AWARDS 2017 CELEBRATE CORPORATE EXCELLENCES IN LONDON

23/10/2017

On October 20th, 2017, the world’s leading corporate stars reunited for a speci

Le Fonti IAIR Awards Take Hong Kong By Storm

21/03/2017

Hong Kong has become a city of bright expansion, culture, and futuristic innovation. Fr

Will Brexit break London's place as FinTech Capital?

17/11/2016

Fintech, it’s described as the disruption in financial services pushed by consume