Dorchester Pacific adds Oxford Finance to its growing empire

Sun, 16 Mar 2014

By Suze Metherell March 17 (BusinessDesk) – Dorchester Pacific, the finance company that avoided failure in 2010 by convincing investors to accept a debt-for-equity swap, will acquire Levin-based lender Oxford Finance. The Auckland-based firm expects to pay between $11.3 million to $12.3 million on acquiring the North Island car finance specialist, depending on Oxford’s pre-tax operating earnings for the year ended March 31 2015, Dorchester Pacific said in a statement. It will fund the acquisition using retained earnings and proceeds from a...

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