Announced
Financials
Tags
United States
Consumer Lending
Acquisition
Private
Majority
Single Bidder
consumer lending
Pending
consumer finance
Friendly
Private Equity
Synopsis
Ally Financial, a bank holding company organized in Delaware and headquartered in Detroit, agreed to acquire CardWorks, a consumer finance lender and servicer, for $2.7bn. "CardWorks represents an industry-leading credit card platform in the US, and this acquisition serves as an important milestone in Ally's evolution to be a full-service financial provider for our customers," Jeffrey J. Brown, Ally CEO.
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