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DFC Global to be taken private for $367 million

Payday lender DFC Global to be taken private by Lone Star Funds for about $337 million

Associated Press

BERWYN, Pa. (AP) -- A private equity firm will spend about $337 million to take the payday lender DFC Global off the publicly traded market.

The companies value the total deal at about $1.3 billion, when debt is included.

DFC Global Corp., based in Berwyn, Pa., operates Money Mart, The Check Cashing Store and other stores and websites around the world.

DFC investors will receive $9.50 for each share they own, almost a 6 percent premium to Tuesday's closing price of $8.98 Tuesday. The company has about 38.6 million shares outstanding.

The deal is expected to close in the third quarter of 2014.

Shares rose 7 percent to $9.60 before the market opened Wednesday.