Chilean Gets PE Investment

Tanner Financial Services has agreed to sell a 27% stake to a fund linked to US investment specialist Capital Group, for $200m, it says. The transaction is to be done through a capital raise that brings the value of the Chilean to $740m after the sale, according to people familiar with the transaction. Tanner did not work with outside investment banks. The capital will be used to grow the business, especially in leasing products. The financial services specialist also hopes to see its ratings raised with its growth in size – it is rated A on a national scale.