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Ezcorp to Buy 53% Stake in Cash Converters, London Times Reports

Aug. 6 (Bloomberg) -- Ezcorp Inc., a U.S. operator of pawn shops, is buying a 53 percent interest in Australia’s Cash Converters, the Times of London reported without saying where it got the information.

Cash Converters, which has 200 mostly franchised stores in London and 160 stores in Australia, is expected to list on the London Stock Exchange Aug. 8, the Times said. Ezcorp’s purchase comes after regulators banned payday loans in at least 13 U.S. states and the number of pawn shops in Britain rises, according to the paper.

To contact the reporter on this story: Brian Swint in London at bswint@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

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