Flexigroup’s attractive rights issue

The consumer lending business’ acquisition of Fisher and Paykel Finance is positive over the longer term.

Consumer lending business Flexigroup Limited (FXL) has announced that it will purchase Fisher & Paykel Finance (F&P) for a total consideration of $315 million, $65m of which is deferred consideration.

On the face of it, the purchase price looks fair, and the company has suggested that the acquisition will add substantially to earnings.

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