Dollar Financial Corp DLLR today announced the U.K. Office of Fair Trading has approved the previously announced acquisition of Purpose U.K. Holdings Limited, the parent company of Month End Money .
MEM, which was established in 2003, operates under the brand name PaydayUK and is the market leader in the region, providing loans through both internet and telephony-based technologies throughout the United Kingdom. The initial funding for the acquisition is expected to be provided by a combination of cash on the balance sheet and a draw down on the Company's recently expanded $200 million global revolving credit facility. The acquisition of MEM is expected to be finalized in approximately 30 days.
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