American general finance inc

PGP Capital Advisors, a boutique Los Angeles investment banking firm that was formed last year, advised MultiCultural Radio Broadcasting Inc. of New York on the $150 million purchase earlier this month of 15 radio stations from Radio Unica Communications Corp. of Miami. The deal was part of a pre-packaged bankruptcy filing by Radio Unica.

Multicultural Radio owns six stations in Los Angeles, including Korean-language KYPA-AM (1230) and three Pasadena-based stations in Cantonese and Mandarin, KAZN-AM (1300), KMRB-AM, (1430) and KMNY-AM (1600). The acquisition of Radio Unica's 15 stations includes KBLA-AM (1580) in L.A., bringing Multicultural's total ownership to 49 stations.

Stewart Kim, PGP Capital's managing partner, said the deal dovetailed with his firm's niche of advising minority-owned business, particularly Korean-American firms.

GE Capital Corp., a General Electric Co. unit, owned Radio Unica's revolving credit line. It will be paid $20 million while the firm's bondholders are set to recover $111 million, or 70 cents on the dollar. Warburg Pincus owns 60 percent of Radio Unica, whose shares were trading at 70 cents last week. Other assets of Radio Unica will be sold separately.