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PRA Group completes DTP acquisition

PRA Group, a specialist in acquiring and collecting nonperforming loans, has completed its public tender offer to purchase shares of Warsaw-based DTP SA (DTP) on 26 April, 2016.

Some 99.73 per cent of the shares in DTP have been tendered at PLN 4.90 per share (approximately USD1.26 per share), for an aggregate purchase price of PLN 174.5 million (approximately USD45.0 million). PRA has received all approvals and has filed all notices required for the completion of the tender.

“The DTP acquisition further strengthens PRA Group’s position within the competitive marketplace and provides a fully integrated platform for continued growth in the Polish market,” says Steve Fredrickson, chairman and chief executive officer of PRA Group. “This acquisition will allow us to build on each company’s strengths, share best practices, achieve greater operational efficiencies and establish PRA as a leading purchaser in Poland.”

PRA intends to purchase all the remaining shares of DTP through Polish regulatory procedures and will subsequently own 100 per cent of the company. PRA will then initiate the process to withdraw DTP’s shares from public trading and delist the company from the Warsaw Stock Exchange.

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