Alpha Latam Management, LLC and Debtor Affiliates Receive U.S. Bankruptcy Court Approval for Sale of Colombian Assets to CFG Partners Colombia SAS

MIAMI, November 19, 2021 /PRNewswire/ — Alpha Latam Management, LLC and certain of its affiliates that have filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code (collectively, the “Debtors”) in the Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) announced the approval of the proposed sale of the loan portfolio and certain related assets of debtor entities Alpha Capital SAS and Vive Créditos Kusida SAS (together, the “Colombian Sellers”) to CFG Partners Colombia SAS (“CFG Partners”) by the bankruptcy court on November 16, 2021following a successful auction process.

The proposed sale, which was presented to the bankruptcy court on Tuesday, is expected to produce a gross value of around $149.5 million. CFG Partner’s winning bid is the result of six rounds of bidding at the auction and exceeds the purchase price listed in the Stalking Horse APP approved by the bankruptcy court earlier this month of october $134.9 million.

The offer from CFG Partners was ultimately considered the highest and best offer because, in addition to the purchase of the loan portfolio assets, it included the assumption of the part of the Colombian sellers Bogotá rental of the head office, the purchase of assets and equipment related to the head office facilities and the eventual hiring of certain employees of the debtors.

Closing of the sale is subject to regulatory approval by the Colombian Superintendence of Companies and other customary closing conditions.

Oriol Segarra, President and CEO of CFG, said, “We are pleased to announce the acquisition of Alpha’s Colombian loan portfolio, which will accelerate the strategic geographic expansion of our operations in Colombia which will now become an important growth driver for CFG. Colombia is similar to our existing operations in other geographies where CFG has maintained a premier franchise for decades. We have already assembled a local leadership team with experience in this market who will manage the acquisition of Alpha and lead the launch of our payroll deduction product through digital channels in the coming months,” said Eduardo ArguelloSVP Strategy and Business Development.

The debtors are advised by White & Case LLP and PPU. Rothschild & Co served as the debtors’ investment banker for the proposed transaction. Wachtell, Lipton, Rosen & Katz is legal counsel to CFG on the transaction, and Brigard Urrutia is Colombian legal counsel.

About AlphaCredit©

AlphaCredit© is a technology-based financial services company Latin America which has historically provided consumer loans to individuals and financial solutions for SMEs in Mexico and Colombia.

About CFG Partners

CFG Partners LP is a digitally evolving branch-based consumer finance company that offers unsecured personal loans and ancillary credit insurance products in Panama and the Caribbean. CFG has more $430 million receivables and 110,000 customers at 70 sites in seven jurisdictions and 1,100 employees. Since 2007, CFG was born on $3.4 billion unsecured personal loans. BayBoston Managers LLC is the sponsor of CFG and lead investor in an international group that includes Insigneo Financial Group, Elias Group, Victory Park Capital, Amzak Capital and M&A Capital.

Forward-looking statements

This release includes “forward-looking statements”. Forward-looking statements are not statements of historical fact and reflect debtors’ current views about future events. The words “believe”, “estimate”, “expect”, “anticipate”, “plan”, “will”, “intend”, “seek”, “could”, “should”, ” may”, “potential” and similar expressions are intended to identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. Although the obligors believe that their expectations reflected in the forward-looking statements are reasonable and based on reasonable assumptions, certain risks and uncertainties could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in the this press release. These risks and uncertainties include, but are not limited to, risks associated with our ongoing discussions with our creditors, including our ability to negotiate agreements with our creditors on commercially favorable terms or not at all, limitations on the availability of capital, the volatility of the Debtors’ business, the Debtors’ ability to meet their financial and other covenants and measures in their financing agreements, and, with respect to the proposed sale, the risk that the closing conditions to effect the sale proposed are not met. Any forward-looking statement speaks only as of the date such statement is made, and Debtors undertake no obligation to update or revise any forward-looking statement made herein or any other forward-looking statement made by Debtors. , whether as a result of new information, future events or otherwise. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities.

SOURCEAlpha Latam Management, LLC