Finbond Group Limited (JSE:FGL) agreed to acquire 25% stake in CEGE CAPITAL SAPI, de CV for $18.8 million on May 24, 2021. As per the transaction, Finbond Group Limited would also have an option to acquire a further 10% of CEGE CAPITAL SAPI, de CV’s shares to increase its shareholding up to 35% by August 31, 2021 by way of an offer for subscription and/or sale. The purchase consideration would be payable in cash on the closing date of the transaction. Currently Microfin CEGE S.A. de C.V. and Controladora RRL S.A.P.I. de C.V. holds 39.5% stake, Credito Real, S.A.B. de C.V., SOFOM, E.N.R. holds 38%, and Credex holds 22.5% stake in CEGE CAPITAL SAPI, de CV. Finbond Group Limited intends to fund the Contigo Transaction from surplus cash on hand. As on April 31, 2021, CEGE CAPITAL SAPI, de CV generated EBITDA of $14.6 million. The transaction is subject to negotiation and execution of a definitive agreement, Finbond Group Limited’s board and investment Committee approval, CEGE CAPITAL SAPI, de CV’s board and shareholder approval and finalization of a satisfactory due diligence investigation by Finbond Group Limited. The transaction is expected to complete on August 1, 2021. The transaction is expected to complete on November 1, 2021.