Associates Completes Kentucky Finance Deal
DALLAS - Associates Corp. of North America, an affiliate of Ford Motor Co., said it has completed its previously announced acquisition of Kentucky Finance Co. for about $145 million.
Kentucky Finance, which specializes in direct consumer lending, adds $260 million in assets and 159 offices in 10 states to Associates' 650-office domestic network.
Kentucky Finance, previously owned by Kentucky Central Life Insurance Co., will continue to operate under its own name, said Reece A. Overcash Jr., chairman of Associates. The Ford unit has $18.8 billion in domestic assets.