Assets of consumer finance company being purchased

Sparta Commercial Services Inc. is in the process of acquiring the assets of a Denver-based consumer finance company, a press release announced.

The assets include a portfolio of motorcycle loans in excess of $14 million, the press release said.

The acquisition is still subject to a sales agreement but Sparta, a New York-based national financial services company, said it expects the transaction to be closed by Jan. 31.

The ultimate purchase price of the acquisition is subject to adjustment at closing based on the value and performance of the portfolio to be acquired.

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