First BanCorp sells 24.9% stake to private equity firm
May 31, 2011
After many months of talk that it would sell its operation off partially or entirely to offset its financial problems, First BanCorp on Tuesday announced it has entered into a definitive investment agreement with private equity firm Thomas H. Lee Partners, L.P. under which THL would purchase about $180 million of the bank’s common stock.
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Most banks closed on Memorial Day, BBVA operating half-day
May 30, 2011
The majority of Puerto Rico’s banks will remain closed today, in observance of Memorial Day, resuming operations Tuesday.
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Advent-Morro pumps $5M into La Familia pawnshop chain
May 24, 2011
Private equity firm Advent-Morro announced Tuesday it is investing $5 million in pawnshop chain La Familia to support its expansion plans in Florida and Puerto Rico.
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