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UPDATE 1-Lone Star Funds to take DFC Global private
April 2, 2014 / 1:00 PM / 3 years ago

UPDATE 1-Lone Star Funds to take DFC Global private

(Adds details)

April 2 (Reuters) - DFC Global Corp, a pawn shop chain and payday lender, said it would sell itself to private equity firm Lone Star Funds for about $376 million.

DFC Global stockholders will receive $9.50 per share in cash, representing a premium of about 6 percent to the stock’s Tuesday closing.

DFC Global shares were trading at $9.67 before the bell on Wednesday, above the offer price.

Including debt, the deal is valued at $1.3 billion, DFC Global said in a statement.

DFC Global will become a privately held company after the closing of the deal, expected in the third quarter.

Houlihan Lokey Capital was financial adviser to DFC Global, while Jefferies LLC and Credit Suisse Securities advised Lone Star Funds. (Reporting By Neha Dimri in Bangalore; Editing by Saumyadeb Chakrabarty)

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