Alpha Latam OK'd For $149.5M Ch. 11 Sale To CFG Partners

By Jeff Montgomery (November 16, 2021, 6:53 PM EST) -- Latin American payday lender Alpha Latam Management LLC secured bankruptcy court approval in Delaware Tuesday for a $149.5 million sale of its Colombian assets to an affiliate of Puerto Rico-headquartered CFG Partners, topping a stalking horse offer by $16.5 million.

U.S. Bankruptcy Judge J. Kate Stickles approved the deal during a teleconference hearing without objections being raised.

The winning offer 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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