(SEAF) February 3, 2011 – LFLP Holdings, which owns 93.3% of common shares of Financiera TFC, sold 22% of those shares to private equity funds Latam Peru Fund and Latam Growth Fund.
Among the participants of these funds are various institutional investors, including local AFPs (such as Horizon and Integra) and the funds are administered by companies Access SEAF SAFI and Access Fund Management Inc.
As part of the agreement, shareholders have decided to conduct a capital increase in TFC Financial, equivalent to 13% of capital currently held by the institution.
“The capital increase that has been stipulated in this agreement will allow for more resources to fund our corporate projects while increasing our credit in the local market, “said Financiera TFC General Manager Pablo Quiroga.
The new shareholders will also have up to two directors in Financiera TFC as well as a representative in the presidency of the Audit Committee.
Financiera TFC is a Peruvian financial institution that provides financing options to middle-low income clients in the country. In particular, Financiera TFC finances customer purchases of appliances at the La Curacao chain and also provides credit for programs Techo Propio and Mivivienda.