Asta Funding Announces Significant Portfolio Purchases
biz.yahoo.com
Tuesday December 13, 8:32 am ET
- Company Purchases Distressed Consumer Receivable Portfolios Totaling $970 Million -
ENGLEWOOD CLIFFS, N.J., Dec. 13 /PRNewswire-FirstCall/ -- Asta Funding, Inc., (Nasdaq: ASFI), a leading consumer receivables asset management and liquidation company, today announced its portfolio purchases since the start of its fiscal year 2006, which began October 1, 2005. To date, the company has purchased distressed consumer receivable portfolios aggregating approximately $970 million, for a purchase price of approximately $47.7 million. The acquisition of these substantial portfolios is composed of credit card and telecom debt.
Gary Stern, Chief Executive Officer, said, "I am delighted to announce Asta's portfolio purchases to date, which are a great start to the new fiscal year. We continue to review additional purchase opportunities on a frequent basis and have begun to witness new opportunities arise within the marketplace." |
