RCB Investimentos, a platform for non-performing loans in Brazil, announced its partnership with PRA Group, an acquiring firm for non-performing loans in the Americas and Europe.
“This partnership strengthens RCB’s position in the Brazilian market as a major independent solution provider," RCB Investimentos CEO Alexandre Nobre said. "With a stronger capital base, the company will be even more competitive when bidding for its clients’ sale offerings, leveraging PRA’s proven experience as an efficient and highly compliant international collection resource."
PRA Group purchased a majority position in RCB in early August. Its founders, Nobre and Renato Toledo, will continue to manage the company’s local business in Brazil aiming to increased market participation. This transaction provides PRA with a strategic partner for entry into the large and thriving Brazilian distressed loan sale market.
“We see Brazil as a significant long-term growth opportunity," PRA Group Chairman and CEO Steve Fredrickson said. "In RCB, we have what we view as the best underwriter and master servicer in the country run by a fantastic management team. We are very excited to continue diversifying geographically and work with Alexandre Nobre and Renato Toledo to further develop RCB."
- New Colombia Resources says Sannabis test was successful
- Grupo Exito aims to help support Colombia
- Codelco CEO calls for transparency, focus on production goals
- BCP offers tips on choosing master's degree program
- General Tire launches new tire for Andean market
- Latin America talks of boosting pork production, exports @CorferiasBogota
- AIR Worldwide team takes part in wind-engineering conference
- El Salvador's Asesuisa discusses risk management, strategic direction with stakeholders
- Grupo Exito buying lettuce locally to support resocialization program
- Endo selling Mexico-based Grupo-Farmaceutico Somar