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CML Group buys CashFlow Advantage

Receivables finance company CML Group has announced that it will buy competitor CashFlow Advantage, boosting its loan book by more than a third.CML has entered a binding heads of agreement to purchase 100 per cent of CashFlow Advantage's shares for around A$3 million in cash.CashFlow Advantage's loan book is worth around $10 million and CML's is worth $25.5 million. The combined group will have 167,000 clients.Last May CML acquired another receivables finance company, Cashflow Finance Australia.

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