Caribbean Investment Holdings Ltd Approval for Acquisition (7437G)
27 Novembre 2020 - 8:52AM
UK Regulatory
TIDMCIHL
RNS Number : 7437G
Caribbean Investment Holdings Ltd
27 November 2020
Caribbean Investment Holdings Limited
27 November 2020
This announcement contains inside information
CARIBBEAN INVESTMENT HOLDINGS LIMITED - APPROVAL RECEIVED FROM
CENTRAL BANK OF BELIZE FOR THE ACQUISITION OF SCOTIABANK (BELIZE)
LTD.
Road Town, Tortola, British Virgin Islands, 27 November, 2020 --
(London - AIM: CIHL; Bermuda - CIHL) (the "Company" or "CIHL").
Regulatory approval
CIHL is pleased to announce that the proposed purchase by the
Company of Scotiabank (Belize) Ltd. ("SBL") from Scotiabank
Caribbean Holdings Ltd. (the "Seller"), a subsidiary of The Bank of
Nova Scotia ("BNS"), for an initial purchase price of up to US$30.5
million ("Acquisition"), has been approved by the Central Bank of
Belize; a key condition for the closing of the Acquisition (the
"Approval").
The Approval has been granted by the Central Bank of Belize
subject to the requirement that SBL merges with The Belize Bank
Limited, the Company's existing wholly owned banking business in
Belize by 31 March, 2022 (the "Post-Closing Merger").
The Approval also is subject to a number of additional customary
technical and administrative terms and conditions, principally in
relation to the Post-Closing Merger.
Outstanding conditions to closing of the Acquisition
Following receipt of the Approval, the Acquisition remains
subject to certain customary conditions and pre-closing steps,
which remain outstanding. Subject to the satisfaction and
completion of such remaining conditions and pre-closing steps,
closing of the Acquisition is expected to take place in the first
quarter of 2021.
Person releasing this information on behalf of CIHL: Philip
Osborne, Company Secretary
For further information contact:
Caribbean Investment Holdings Limited
UK +44 (0)207 248 6700
Cenkos Securities plc
Nicholas Wells +44 (0)207 397 8920
Note: This and other press releases are available at the
Company's website: http://www.cihltd.co.
Background Information
Caribbean Investment Holdings Limited ("CIHL") is a parent
holding company with no independent business operations or assets
other than its investments in its subsidiaries, intercompany
balances and holdings of cash and cash equivalents. CIHL's
businesses are conducted through its subsidiaries. The Belize Bank
Limited ("BBL") is incorporated and based in Belize and focuses on
the provision of financial services and lending to domestic
clients. Belize Bank International Limited is incorporated and
based in Belize and focuses on the provision of financial services
and lending to international clients. CIHL also owns an
international corporate services business based in Belize, which
operates as Belize Corporate Services Limited. Within Belize, BBL
is one of the largest, full service commercial and retail banking
operation with a head office in Belize City and eleven branches
extended into each of the six districts of Belize. The principal
operations of BBL are commercial lending, consumer lending, deposit
taking and related banking activities.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
ACQFIFSDLALDFII
(END) Dow Jones Newswires
November 27, 2020 02:52 ET (07:52 GMT)
Caribbean Investment (LSE:CIHL)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Caribbean Investment (LSE:CIHL)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024