Debt collector Portfolio Recovery to buy Aktiv Kapital for $880 mln

Wed Feb 19, 2014 5:10pm EST

Feb 19 (Reuters) - U.S.-based Portfolio Recovery Associates Inc said it would buy Aktiv Kapital AS, a Norway-based company that services non-performing consumer loans, for about $880 million.

Portfolio Recovery, which provides fee-based debt collection services, said it would also assume Aktiv's debt of $435 million, giving the deal an enterprise value of $1.3 billion.

Portfolio Recovery's shares rose 5 percent to $53.00 in trading after the bell.

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