The cash consideration for the acquisition would be approximately $73m, of which approximately $58m would be cash paid at closing, with the remaining $15m of additional cash to be paid in installments during calendar year 2011.
Dollar Financial also expects to assume Sefina’s existing working capital lines of credit associated with a number of Scandinavian banks, which are expected to have outstanding balances aggregating to approximately $60m upon the closing of the acquisition.
Dollar Financial will also be required to make additional cash payments to the sellers over the next two years based on the financial performance of the acquired business.
Sefina, which has more than a 125 year operating history, has 16 store locations in Sweden and 12 stores in Finland.
The completion of the acquisition is contingent upon customary closing conditions, including local regulatory approval, which is expected to take 30 to 60 days to obtain.
