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CML Group closes acquisition of Thorn Group's trade and debtors finance division

Australian finance and employment services provider CML Group Ltd. on Feb. 27 said it completed its acquisition of IstCash Pty Ltd. from computer and electronics retailer Thorn Group Ltd. for about A$39 million.

IstCash is the trade and debtors finance division of Australia-based Thorn Group.

According to a Feb. 22 release, Thorn Group will use the proceeds from the deal to reduce debt.