Business News • MarketWire • DirectCash Income Fund Announces Asset Acquisition of Premium ATM Competitor |
DirectCash Income Fund Announces Asset Acquisition of Premium ATM Competitor |
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DirectCash Income Fund Announces Asset Acquisition of Premium ATM Competitor
CALGARY, ALBERTA--(Marketwire - July 31, 2010) - DirectCash Income Fund (the "Fund") (TSX:DCI.UN) announced today that the Fund's operating subsidiary partnership, DirectCash ATM Processing Partnership (the "DirectCash Partnership"), entered into agreements and closed a transaction to acquire certain automated teller machine contracts of Cashline Inc. ("Cashline"), a privately held corporation based in Victoria, BC. The purchase price was $16.1 million including working capital such as inventory, prepaid expenses and accounts receivable. The acquisition is subject to customary purchase adjustments and holdbacks and was funded from DirectCash's acquisition credit facility, which has been increased to accommodate this transaction. To finance this acquisition DirectCash increased its acquisition credit facility from $40 million to $57 million and its revolving lin
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