Business News • MarketWire • Sunset Capital Assets, Inc. (Sunset Brands, Inc.) Executes LOI to Acquire Motors Acceptance Corporation |
Sunset Capital Assets, Inc. (Sunset Brands, Inc.) Executes LOI to Acquire Motors Acceptance Corporation |
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Sunset Capital Assets, Inc. (Sunset Brands, Inc.) Executes LOI to Acquire Motors Acceptance Corporation
JACKSONVILLE, FL--(Marketwired - Mar 27, 2014) - Sunset Capital Assets, Inc., (OTC: SSBN), a Nevada corporation, trading on the Over the Counter (OTC) markets "pink sheets" as SSBN, announced today that the Company has executed a letter of intent for the acquisition of Motors Acceptance Corporation, MotorMax and MotorMax Financial Services Corporation collectively called "MotorMax". MotorMax is a family-owned, vertically integrated specialty finance company with forty years of experience in the sub-prime finance business. The Company owns and operates a finance company specializing in both financing and leasing automobiles and a captive network of 6 retail auto dealerships (MotorMax) in Georgia and Alabama as well as a wholesale auto company. The Company also owns MotorMax Financial Services Corporation (MMFS) which operates direct consumer lending offices in Alabama, Georgia, South Carolina and Missouri. Finally, the Company also owns a direct loan (GILA) company in Columbus, Georgia specializing in small consumer loans. The Company's captive model enables it to control the entire business process, including the vehicle acquisition at the auction, reconditioning, retail sale, underwriting, loan servicing and collection.
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