Paragon Of Companies (LSE:PAG)
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2 Years : From Jun 2011 to Jun 2013
Paragon Group Of Companies PLC (PAG.LN), said Monday it acquired a portfolio of closed U.K. consumer credit card receivables from MBNA Europe Bank Ltd, adding that the acquisition is expected to be earnings enhancing to Paragon in the current financial year.
-The consideration, which is being financed from Paragon's cash reserves and which represents the value at which the acquired receivables will be taken on to the Group's balance sheet, is GBP55.7 million.
-Paragon Group Of Companies shares at 1200 GMT up 1 pence, or 0.8%, at 175 pence, valuing the company at GBP523.38 million.
-By Razak Musah Baba, Dow Jones Newswires; 44-20-7842-9275; firstname.lastname@example.org