Mexico Antitrust Review of Viva Aerobus–Volaris Deal Signals Growth for Airline Sector 
Elon Musk Wins Reinstatement of Historic Tesla Pay Package After Delaware Supreme Court Ruling 
John Carreyrou Sues Major AI Firms Over Alleged Copyrighted Book Use in AI Training 
Google and Apple Warn U.S. Visa Holders to Avoid International Travel Amid Lengthy Embassy Delays 
Bridgewater Associates Plans Major Employee Ownership Expansion in Milestone Year 
Novo Nordisk Stock Surges After FDA Approves Wegovy Pill for Weight Loss 
AstraZeneca’s LATIFY Phase III Trial of Ceralasertib Misses Primary Endpoint in Lung Cancer Study 
7-Eleven CEO Joe DePinto to Retire After Two Decades at the Helm 
FDA Fast-Tracks Approval of Altria’s on! PLUS Nicotine Pouches Under New Pilot Program 
JPMorgan’s Top Large-Cap Pharma Stocks to Watch in 2026 
ByteDance Plans Massive AI Investment in 2026 to Close Gap With U.S. Tech Giants 
FTC Praises Instacart for Ending AI Pricing Tests After $60M Settlement 
Seatrium Reaches $475 Million Settlement With Maersk Over Offshore Wind Vessel Project 
U.S. Lawmakers Urge Pentagon to Blacklist More Chinese Tech Firms Over Military Ties 
Texas App Store Age Verification Law Blocked by Federal Judge in First Amendment Ruling 
Boeing Wins $2.04B U.S. Air Force Contract for B-52 Engine Replacement Program 
Trump Signals Push for Lower Health Insurance Prices as ACA Premium Concerns Grow 
SAN DIEGO, March 31, 2016 -- Encore Capital Group (NASDAQ:ECPG), an international specialty finance company, today announced that it has completed the previously announced sale of its wholly owned subsidiary Propel Financial Services to Prophet Capital Asset Management, an Austin, Texas-based Registered Investment Adviser. The transaction generated more than $150 million in after-tax proceeds for Encore.
Encore has a broadening array of opportunities within its global footprint. As such, this transaction provides significant benefits to Encore, including improving the overall corporate-invested capital returns, reducing debt, providing liquidity, and allowing a greater focus on expanding market leadership in debt-buying and servicing in the U.S. and around the world.
Encore and Prophet announced the agreement on Feb. 24, 2016.
About Encore Capital Group, Inc.
Encore Capital Group is an international specialty finance company that provides debt recovery solutions for consumers across a broad range of assets. Through its subsidiaries around the globe, Encore purchases portfolios of consumer receivables from major banks, credit unions and utility providers.
Encore partners with individuals as they repay their debt obligations, helping them on the road to financial recovery and ultimately improving their economic well-being. Encore is the first and only company of its kind to operate with a Consumer Bill of Rights that provides industry-leading commitments to consumers. Headquartered in San Diego, Encore is a publicly traded NASDAQ Global Select company (ticker symbol: ECPG) and a component stock of the Russell 2000, the S&P Small Cap 600 and the Wilshire 4500. More information about the company can be found at http://www.encorecapital.com. More information about the Company's Cabot Credit Management subsidiary can be found at http://www.cabotcm.com. Information found on the company’s or Cabot’s website is not incorporated by reference.
Contact: Katie Lilley (Encore) P: 703-722-3061 M: 202-253-5026 [email protected]
