Access Financial Services Limited (AFS) Announces Acquisition of Embassy Loans Inc.

• Access Financial Services Limited (AFS) has announced that it has completed the acquisition of 100% of the outstanding shares of Embassy Loans Inc., a Florida based auto equity finance company, at a cost of US$6.4M. 

• The transaction which was completed on December 14, 2018 was funded from the proceeds of a J$900M global bond which was issued in October 2018. 

• The acquisition of Embassy is in keeping with AFS’s long-term strategy to diversify the Company’s operations and revenue streams into markets where profitable opportunities for growth are identified and it provides a platform for expansion in North America.

(Source: JSE)