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The "receivables" of $330m equated to four and a half months' revenues.
After the takeover, it will manage card receivables of $169 billion, more than its two nearest rivals combined.
Miramax's buyers, by contrast, are expected to borrow against receivables of about $300 million, thus writing an equity check of about 55 percent.
Bank of Montreal said in a separate statement that the acquisition would more than double its business in corporate credit cards, adding $7.8 billion in card transactions and net receivables of $1 billion.
Sprint, based in Kansas City, Mo., said it planned to extend its accounts receivable program to include receivables of its Sprint PCS Group wireless telephone unit, giving Sprint access to more than $500 million of additional cash.
Groupon is essentially holding a portfolio of loans backed by the receivables of small businesses.
Similar(45)
One of the central pieces of the Peregrine fraud was the sale of receivables, many of them fraudulent, to banks.
Folk admitted in a deposition that this had led to "fudging" the age of receivables on MCI's books.
It will get $10 million in cash at the closing of the deal and retain $250 million of cash collected during the first quarter as well as $185 million of billed receivables, $50 million of other working capital and net pension assets of $320 million.
The receivable of 17.69 billion lire in Fininvest Roma's balance sheet simply netted off against the liabilities of 17.44 billion in Fininvest Srl's balance sheets.
For example, if your sales were $500 for the year, and you had accounts receivable of $50, your average accounts receivable age would be 365/ 500/50), or 36.5 days.
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