Caribbean Investment announces it will acquire Scotiabank Belize

Tuesday 23 June 2020 10:53 CET | News

Caribbean Investment has agreed to acquire Scotiabank Belize from Scotiabank Caribbean, a subsidiary of Scotiabank.

Under the deal terms, Caribbean Investment will acquire all of Scotiabank’s licenced banking operations in Belize by acquiring entire shares of Scotiabank Belize. Caribbean Investment has agreed to pay an initial purchase price of up to USD 30.5 million for the acquisition, including Scotiabank Belize’s shareholder equity of USD 28.5 million and a premium of USD 1.5 million.

Apart from the initial purchase price, CIHL has also agreed to make an additional payment of USD 4.5 million if the shareholders’ equity value exceeds USD 28.5 million before closing the deal. Moreover, the deal terms also mandate that the maximum value of the deal cannot exceed USD 35 million.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Caribbean Investment, Scotiabank Belize, banking, Scotiabank Caribbean, Scotiabank, payments
Categories: Banking & Fintech
Countries: Caribbean
This article is part of category

Banking & Fintech

Industry Events