Jul 2007 Financial News

Acquisition of shares in One1 Financial Limited by GraceKennedy Limited

Jul 20, 2007

GraceKennedy Limited has informed the Exchange that under a share purchase agreement effective July 19, 2007, GraceKennedy Limited, through its subsidiary, First Global Holdings (“FGH”), has acquired a 90 percent holding in ONE1 Financial Limited, a financial services company in Trinidad and Tobago.

The newly acquired company will become part of the First Global group, which currently includes First Global Bank and First Global Financial Services Limited.
ONE1 Financial Ltd. specializes in structured finance, securities trading, capital raising and financial advisory services. Chief Executive Officer of GraceKennedy Investments Don Wehby under whose portfolio FGH falls said the acquisition should see ONE1 Financial quickly expanding its range of services, to offer a comprehensive suite of products to investors in Trinidad & Tobago.

In Jamaica, the First Global Group provides a full range of banking and investment services including equity trading, pension fund management, asset and portfolio management, and corporate finance and advisory services.

Source:
The Trinidad and Tobago Stock Exchange (TTSE)
Friday July 20, 2007