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Thursday, April 10, 2014

Cash America considers spinning off online lending business, (NYSE: CSH)

Payday lender Cash America International Inc said its board was reviewing a tax-free spinoff of its online lending business and other strategic alternatives. Any spinoff of the business, which consists of the company's e-commerce unit Enova International Inc, will create a publicly-traded online lending company with about $766 million in revenue as of Dec. 31, Cash America said in a statement. [ID:nBw13dhD4

Cash America International, Inc., provides specialty financial services to individuals through retail services locations and through electronic distribution platforms known as e-commerce activities. Shares of CSH traded higher by 0.71% or $0.27/share to $38.50. In the past year, the shares have traded as low as $34.80 and as high as $50.04. On average, 326108 shares of CSH exchange hands on a given day and today's volume is recorded at 110307.



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