NCB Financial Group says it has completed the acquisition of more than $74-million ordinary shares in Guardian Holdings.
NCB says the acquisition follows the granting of all regulatory approvals, including in Jamaica and Trinidad & Tobago, and the closing of the Group’s offer on May 3.
The Group says it paid for the shares yesterday.
A net total of nearly 118-million shares were tendered in response to the Offer, after taking into account almost 8-hundred thousand shares tendered but not accepted based on the Offer conditions.
NCB Financial Group now owns nearly 62% of the outstanding shares in Guardian Holdings.
Group Chairman, Michael Lee-Chin, says amidst the context of de-risking impacting the region, they’re proud and excited about the implications and prospects of two leading indigenous Caribbean institutions coming together to drive economic growth, customer and shareholder value.
Group President and CEO, Patrick Hylton, says both institutions combined have the opportunity to become a world class financial services conglomerate.