Greensill Capital’s former managers in Latin America bought back the bankrupt U.K. company’s unit in the region and plan to expand the operation.

The purchase, which was backed by the investment firm 777 Partners, includes assets in Colombia and Chile, the new company’s chief executive officer, Diego Caicedo, said in a video interview from Bogota. The buyers paid $11.3 million to Greensill’s bankruptcy estate, he said.

The new firm will be called OmniLatam, the name of the Bogota-based fintech Caicedo and his partner Andres Abumohor founded in 2018. Greensill purchased it last June, just eight months before the London-based company filed for administration in the U.K. after a stunning collapse that shook the global financial community. Greensill’s parent company went into liquidation in April.

Read more/Source: Bloomberg