NCB Global Holdings to acquire majority shareholding in GHL
NCB Global Holdings Limited (NCBGHL) has been granted a licence under the Foreign Investment Act to acquire up to 74,230,750 shares in Guardian Holdings Limited (GHL).
GHL, a local public company, is the parent company for an integrated financial services group known as Guardian Group, which is involved in life, health, property and casualty insurance, pensions and asset management throughout the Caribbean.
The licence to acquire the GHL shares was issued on Monday by the Finance Ministry.
In a statement, Finance Minister Colm Imbert welcomed the direct foreign investment in the local financial services sector.
He noted that NCBGHL is a company with Caribbean connections, and extended best wishes to all involved in their future endeavours.
NCBGHL currently holds 69,547,241 shares in GHL, representing 29.99 percent of the total issued and outstanding shares of GHL.
The total number of shares held by NCBGHL in GHL will, after acquisition of the additional amount of shares, increase to up to 143,777,991 shares of GHL, representing 61.99 percent of the total issued and outstanding shares in the company.