In Brief: Amresco of Dallas To Buy Two Lenders

Amresco Inc. said Tuesday that it plans to acquire two Dallas-based finance companies in an $81.2 million cash and stock transaction.

The home equity and commercial lender will purchase Independence Funding Co., a small-business lender, and Telecapital, a lender to the private pay phone industry.

Amresco, like other home equity lenders, has been diversifying into new geographic areas and products in recent months.

The company recently purchased servicing rights for a pool of nonperforming commercial loans in Mexico.

Independence Funding approved $108 million in loans in 1997, while Telecapital made $30 million.

The deal, which is scheduled to close on or before July 15, is expected to have a neutral impact on 1998 earnings per share and be accretive in 1999.

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