MFS Capital Partners Limited has signed an agreement with shareholders of Micro-Financing Solutions Limited to acquire 100 per cent of its shares.
According to the MOU, signed on November 28, the transaction is to be settled within 90 days of the date of the signing.
No price is set for the deal.
MFS, acquired from Stocks and Securities Limited (SSL) in May this year, is a listed private equity firm looking to fully acquire or take positions in mature companies with strong growth potential.
Formerly known as SSL Venture Capital Limited, the company underwent a name change and brand overhaul in August after it implemented a new Board of Directors and management team immediately following the acquisition.
Micro-Financing Solutions Limited is a Kingston-based private company, licensed by the Bank of Jamaica.
It began operations in 2014 as a microlender and licensed cambio, and since then, has expanded its operations into other areas including remittances.
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