First Bancorp announced Tuesday it has entered into a definitive agreement with Oaktree Capital management to sell 24.9 percent of its common stock, for $175.5 million. The transaction comes a month after FirstBank’s parent company entered into a similar agreement with private equity firm Thomas H. Lee Partners, L.P.
Over the next three years, two Puerto Rico highways will undergo a $56 million facelift en route to becoming world-class roads, so said the new private-sector consortium of Goldman Sachs Infrastructure Partners/Abertis, upon signing a 40-year management contract with the government at La Fortaleza Monday.
Satellite television provider DirecTV is wrapping up its 12th year of operations on the island with a $13 million investment in new projects slated through the end of 2011.
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