Subprime lender Altiva Financial Corp. announced Thursday that it has agreed to buy Charlotte, N.C.-based subprime mortgage company Money Centre Inc. for about $20 million.

Altiva, based in Atlanta, said it signed a nonbinding letter of intent to buy Money Centre last month. The deal is expected to close sometime around July 31.

All of Money Centre's 200 employees are expected to remain, bringing Altiva's employee base to about 275.

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