AnaCap buys Cabot Financial from Citi

LONDON, April 10 (Reuters) – European private
equity company AnaCap Financial Partners has agreed to buy
consumer debt financing group Cabot Financial from American bank
Citi , the companies said in a statement.

The price of the acquisition was not disclosed, but AnaCap
said the deal would create a leading British debt management
firm with combined assets under management of more than 6
billion pounds ($9.83 billion).

“The UK’s debt management sector is very fragmented and we
believe that creating a large scale provider will facilitate a
superior level of service for both corporate customers and
consumers,” AnaCap managing director Fabrizio Cesario said in a
statement.
($1=.6103 Pound)

(UK equities)

AnaCap buys Cabot Financial from Citi