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The Money Store sold for £325m to Cabot Square Capital


Cabot Square Capital the private equity house is splashing out £325m to buy The Money Store.


The London-based house moved in to snap-up the sub-prime lender after buy-out talks between The Money Store and its arch rival Kensington Mortgage Company collapsed in June.


The Money Store which is valued at £425m was put-up for sale in May by its US parent First Union after it under performed and failed to establish a presence in the market despite a high profile television advertising campaign featuring comedian Paul Merton.


First Union which itself ran into financial difficulty earlier this year will retain control of The Money Store&#39s US operation.


Cabot Square Capital in which Credit Suisse First Boston is a major investor believes there are significant growth opportunities in the sub-prime market.


It is predicting the economy will continue to grow and people who have had financial difficulties will find the confidence to take out mortgages causing a boom in the sub-prime market.


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