Alpha Latam OK for $ 149.5 million Ch. 11 Sale to CFG partners

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By Jeff Montgomery (Nov 16, 2021, 6:53 p.m. EST) – Latin American payday lender Alpha Latam Management LLC obtained Delaware bankruptcy court approval on Tuesday for a sale of $ 149.5 million from its Colombian assets to a subsidiary of CFG, headquartered in Puerto Rico. Partners, exceeding a $ 16.5 million stalking horse supply.

US bankruptcy judge J. Kate Stickles approved the deal in a teleconference hearing without objections.

The winning bid included an agreement to keep the company’s Colombian headquarters in Bogota open, a provision that Alpha Latam said would preserve 45 jobs in that city and avoid the complications and expense of rejecting the operation.

Cerberus South American Investments LLC, designated …

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