Cash America considers spinning off online lending business

Reuters News
Posted: Apr 10, 2014 7:36 AM

(Reuters) - Payday lender Cash America International Inc said its board was reviewing a tax-free spinoff of its online lending business and other strategic alternatives.

Any spinoff of the business, which consists of the company's e-commerce unit Enova International Inc, will create a publicly-traded online lending company with about $766 million in revenue as of December 31, Cash America said in a statement.

(Reporting by Neha Dimri in Bangalore; Editing by Kirti Pandey)