Thursday, December 20, 2007
Dell to Buy Remainder Of Financial Arm For $306M
Computer manufacturer Dell Inc. announced Thursday that it has exercised its option to purchase CIT's 30 percent interest in Dell Financial Services, a provider of loans, leases and revolving credit for Dell's consumer, small business and commercial customers. Dell, which currently owns 70 percent of the financial services company, said it expects the $306 million transaction to close before the end of the year, leaving it as the sole owner. The Round Rock, Texas-based business added that it doesn't foresee the acquisition having a material impact on its operations or cash flows because it has included DFS in its consolidated financial statements since Q3 2004.