Mexican billionaire Ricardo Salinas Pliego is starting for company within the U.S.: their Grupo Elektra announced Monday morning its effective purchase of Advance America–the biggest payday lender in the U.S.
Stockholders authorized the $780 million price Grupo Elektra available in February, a figure which includes all outstanding stocks regarding the firm that is american payment associated with the business’s financial obligation. You will see no instant modifications into the firm that is american operations, and CEO Patrick O’Shaugnessey has decided to stick to board, states Elektra spokesman Daniel McCosh.
Grupo Elektra ranks 802 on our selection of the entire world’s Biggest Public Companies, and its particular latest acquisition appears a normal complement Salinas’ profile of lucrative companies. In Mexico, Salinas oversees his family-founded Elektra retail string, which offers washers and dryers at low regular prices plus interest, along with a respected bike scooter plant, a tv place, a mobile phone business, and their bank. Continue reading Mexican Billionaire Buys Advance America, Greatest Payday Lender In U.S.