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Street Capital Finally Finds its White Knight

Robert McListe
Publication date:
June 18, 2019
Article Summary: 

Canada's Street Capital Group has been acquired by RFA Capital in a deal that will take Street private. RFA is acquiring all of the shares for $0.68, a 36% premium over Friday's closing price. Pending the acquisition closing, RFA aims to take the combined entities from $6 billion a year in originations to $10 billion, injecting $50 million of equity on day one. Street Capital will get $5 billion in new funding, which will primarily be used for prime insured and uninsured mortgages and non-prime lending. RFA will also "ramp up" Street's deposit business and "diversify the channels we obtain those deposits from." The deal is expected to close in the fall.


Street Capital Group, RFA Capital, acquisition, private, shares, funding, mortgages, non-prime lending, deposit business, competitive rates, ROI, regulatory cost, multi-brand strategy, senior management team, valuation.

Source Citation: 
Robert McListe
Street Capital Finally Finds its White Knight
June 18, 2019
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