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Elektra Enters US with Payday Loan Buy

Feb 17, 2012

Mexico’s Elektra has agreed to buy US payday loan company Advance America in a deal valued at $780m including assumed debt. The purchase marks the Grupo Salinas company’s first step into the financial sector in the US, home to a large Mexican community that sends remittances home to low-income households, which also make up the base of Elektra’s customers. Elektra has...

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