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Access Acquires Asset Management Limited

Release Date: 
Friday, March 6, 2015

Access Financial Services Limited (AFS) announced today that is has finalized an agreement to acquire the loan portfolio of Asset Management Company Limited (AMCL), a subsidiary of Proven Investments Limited, for $439M.

In addition to the acquisition AFS has taken over the AMCL location at 46 Trinidad Terrace which will become the newest AFS branch, and has hired key members of the AMCL team.

Marcus James, Access Financial Services Limited’s CEO stated that “The acquisition is a strategic move for AFSs net profit and the terms of acquisition represented a good value for the underlying assets.

Access further advises that the purpose of the acquisition is to expand its local customer base and share of the microfinance market. AMCL through its eZzeeas 123 brand offers consumer and business financing, and hire purchase.

Access Financial Services is Jamaica’s leading provider of small and micro business loans and personal loans. The company operates from 16 retail offices located throughout Jamaica.