Flowers Sells Controlling Stake in Cabot Credit

Encore Capital Group said Thursday that it has agreed to buy 50.1% of the equity stake held by J.C. Flowers & Co. in Cabot Credit Management. Encore says its paying for £128 million (approximately $192 million). The sale comes two weeks after Flowers acquired Cabot, which is a U.K.-based acquirer and manager of consumer debt.

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