Pawn shop operator and payday lender Cash Converters announced yesterday that its United States alliance partner, EZCORP, plans to buy a bigger stake in the local group, taking its shareholding to over 50 per cent. EZCORP launched an offer for 30 per cent of Cash Converters stock at A$91 cents a share - a 16.6 per cent premium to its average price over the past three months. If the $70 million deal goes ahead it will give EZCORP 53 per cent of the Australian company. Cash Converters said in a statement yesterday that the benefits of the proposed "strategic alliance" would include a global expansion of Cash Converters' business and integration of the two businesses. EZCORP first bought a stake in Cash Converters in 2009. The US company has provided the local business with financial resources and management systems. Cash Converters owns 60 retail outlets in Australia and operates a franchise system with 600 outlets, mainly in Australasia and the United Kingdom. Last month the company reported 48 per cent growth in revenue and 42 per cent growth in net profit for the December half. Net profit of $14.3 million for the half was a record interim result for the company. The company's Australian personal loan book grew 48 per cent, to $47 million. Its United Kingdom personal loan book also grew strongly.