(NAMC) - Barclays Bank PLC is set to acquire the 12th largest non-prime wholesale mortgage originator in the United States, EquiFirst Corporation. The purchase price is approximately $225 million or 115 million pounds. Barclays expects to solidify the deal at some point the first quarter of 2007 and it is subject to regulatory approval.

The deal will be financed directly from Barclay's cash reserves and the comapny expects to achieve an annual after-tax return on this investment in excess of 20%.

NAMC Newswire

NAMC Newswire Note: The 2007 "Wall Street to Main Street" Contest is underway and is only  available to subscribers. Keep in mind that all subscriptions are free, all that you need to do is go to www.namcnewswire.com/contest and add your email address, its simple, quick and FREE. You can win one of the many prizes being offered from an iPod, Zune to various gift cards from select retailers..

This article can be republished either online or in print as long as credit is given to the author and the NAMC Newswire.
 
Wall Street to Main Street is also one of the leading shows on StreetIQ , the leader in financial podcast: http://www.streetiq.com/dir/NAMC.shtml

Also be sure to listen to the "Wall Street to Main Street" radio show that is syndicated daily. Just visit the NAMC radio at www.namcnewswire.com/namcradio. 

U.S. Trade Delegations to China scheduled for 2007, Small and Mid Cap Public and Private U.S. Companies are the Focus of the trips: www.namcworldwide.com/conferences