New public auto-loan firm in works: White River to buy failed Union Acceptance

A new public company is rising from the ashes of Union Acceptance Corp., the failed east-side car-financing company, and is preparing to raise $35 million through a stock offering. White River Capital Inc., which will operate from UAC's former headquarters on North Shadeland Avenue, has agreed to buy out UAC's shareholders for $3.1 million in stock and to buy Virginiabased auto lender Coastal Credit LLC for $50 million in cash. "It's a tough industry, a hypercompetitive industry," White River President...

 

You have accessed IBJ.com Premium online content

IBJ.com Premium online content is identified by locked premium or unlocked premium symbol to the right of the headline. Access to all IBj.com Premium online content requires a paid IBJ.com Premium subscription and the subscriber to be logged in using their email and password. See subscription options below.

Log In if you are a subscriber to IBJ.com Premium Online

...Or choose the IBJ subscription that's right for you:

7 Day Subscription

$4.95 per week

IBJ.com
Premium online

Order Now
   

1 Year Subscription

$1.25 per week

IBJ.com
Premium online

Order Now
 

1 Year Subscription

$1.52 per week

IBJ Print
only

Order Now

 

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
thisissue1-092914.jpg 092914

Subscribe to IBJ
ADVERTISEMENT