Keybridge Capital, an activist debt investor, said on Friday that it will press on with its bid to take control of sub-prime lender PR Finance Group, even if the firm sells its main operating business, Motor Finance Wizard, to an unidentified trade buyer.PR Finance has been in talks to sell Motor Finance Wizard for around a year.Keybridge, which made PR Finance a A$14 million mezzanine loan, is acting to protect its investment after its borrower defaulted earlier this year.Commonwealth Bank, the principal lender to PR finance, prevented interest payments being made on the mezzanine loan in January and February this year, because of breaches of covenants with the bank.Keybridge said it would retain the existing management of PR Finance, and also said it did not plan to operate the business itself.Keybridge said its reason for proposing the acquisition was "as a mechanism to stabilise PRFG" and to give the financier time to stabilise its balance sheet.Keybridge said the alternative to taking control of PRFG was to do nothing, "which would have resulted almost certainly in PRFG being unable to repay the mezzanine loan."The notice of meeting for a general meeting to consider the plan, released on Friday, did not disclose any recent data on the profits or losses, or revenues of PRFG. It did, however, note that Motor Finance Wizard provided 90 per cent of the revenue of PR Finance Group, while AMX Money (a payday lending business) contributed just five per cent of revenue.Keybridge will pay $1.5 million in cash and up to 2.5 million Keybridge shares (worth 16 cents each) to PR Finance, putting a value of $1.9 million on the Queensland-based financier. Keybridge may also pay a further $1 million if PR Finance Group MFW (Motor Finance Wizard) meets satisfactory terms of business.In the year to June 2011, however, PR Finance made a loss of $821,000, following a break-even result the year before. It is yet to disclose its more recent financial results.The consideration agreed is a far cry from the projected value of $354 million for PR Finance Group when the business was seeking to list on the Australian Securities Exchange in early 2007.