- Frontera Group ( OTCPK:FRTG ) to acquire 24.9% of the total issued and outstanding shares of McAllen, Texas-based Texas G & S Investments from a joint venture controlled by members of the Solis family of McAllen, Texas.
- The term sheet also provides an option for Frontera to acquire the remaining 75.1% of TME over time.
- TME is a Texas Department of Banking licensed and bonded non-depository financial institution engaged in the money service business.
- Although financial terms were not yet disclosed, the first phase of the acquisition for 24.9% of TME is scheduled to close during Q1 2023
For further details see:
Fronterra Group to acquire 25% stake in G&S Investments