Jun 2019 Financial News

NCB Financial Group Limited - Notice of Transaction to sell 100% stake in Advantage General Insurance Company Limited

Jun 21, 2019

NCB Financial Group Limited (“NCBFG”) announces that NCB Capital Markets Limited (“NCBCM”), a subsidiary of NCBFG, has entered into a share purchase agreement with Sagicor Investments Jamaica Limited, Fundy Bay Equity Holdings Limited (affiliated with Mark Thompson) and Resource In Motion Limited (affiliated with Donovan Lewis) for the sale of NCBCM’s 100% stake in Advantage General Insurance Company Limited.
 

The Share Purchase Agreement contemplates that the shares will be sold for a consideration of US$50,500,000.00 (approximately J$6,592,775,000.00).
 

Completion of the transaction is subject to regulatory approval.

 

Source:
The Trinidad and Tobago Stock Exchange Limited
Friday 21st June, 2019