Trinidad’s Republic Financial Holdings acquires Scotiabank Caribbean operations for US$123m – Stabroek News


(Republic Financial Holdings) Port-of-Spain, Trinidad:  November 27, 2018 – Today, Republic Financial Holdings Limited (RFHL) announced that it has entered into an agreement to acquire Scotiabank’s banking operations in Guyana, St. Maarten and the Eastern Caribbean territories, including Anguilla, Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines.

The purchase price is US$123 million, which represents US$25 million consideration for total shareholding of Scotiabank Anguilla Limited; and a premium of US$98 million over net asset value for operations in the remaining eight (8) countries. This price does not include any amounts required to capitalise the branches post-closing. The agreement, executed on November 27, 2018 signalled the…

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