Asta Funding, Inc. (ASFI) Message Board

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Non-Tech : Asta Funding, Inc. (ASFI)

ASFI 13.08

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Sep 29 4:00 PM EDT

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From: JakeStraw	2/12/2007 10:20:37 AM
	of 46

Asta Funding Buying Portfolio for $300M biz.yahoo.com Friday February 9, 4:48 pm ET Debt Collector Asta Funding Agrees to Spend $300M to Buy Portfolio With Face Value of $6.9B ENGLEWOOD CLIFFS, N.J. (AP) -- Debt collector Asta Funding Inc. on Friday said it has signed a definitive agreement for a $300 million purchase of a portfolio with a face value of $6.9 billion, mostly in credit card accounts. The sellers are Great Seneca Financial Corp. and other entities. Asta Funding said it gave Great Seneca a $60 million deposit and will fund another $15 million on Feb. 16. The company anticipates closing the acquisition within four to six weeks.

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