Lender paragon to buy asset finance brokerage premier asset finance

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Oct 3 British lender Paragon Group of Companies Plc said it would buy asset finance brokerage Premier Asset Finance Ltd.** The initial cash consideration for the deal, which has received regulatory approval, is 8.5 million pounds ($10.99 million), Paragon said.

** The company said it would pay a further 12 million pounds over the next five years, subject to performance conditions.

** Paragon said it would pay for the deal using existing cash resources.

** Edinburgh-headquartered Premier sources more than 100 million pounds of lending every year to small and medium sized businesses, Paragon said.