Caribbean Investment Holdings Limited
27 November 2020
This announcement contains inside information
Road Town, Tortola,
Regulatory approval
CIHL is pleased to announce that the proposed purchase by the Company of Scotiabank (
The Approval has been granted by the Central Bank of
The Approval also is subject to a number of additional customary technical and administrative terms and conditions, principally in relation to the Post-Closing Merger.
Outstanding conditions to closing of the Acquisition
Following receipt of the Approval, the Acquisition remains subject to certain customary conditions and pre-closing steps, which remain outstanding. Subject to the satisfaction and completion of such remaining conditions and pre-closing steps, closing of the Acquisition is expected to take place in the first quarter of 2021.
Person releasing this information on behalf of CIHL: Philip Osborne, Company Secretary
For further information contact:
Caribbean Investment Holdings Limited
Cenkos Securities plc
Nicholas Wells +44 (0)207 397 8920
Note: This and other press releases are available at the Company's website: http://www.cihltd.co.
Background Information
Caribbean Investment Holdings Limited ("CIHL") is a parent holding company with no independent business operations or assets other than its investments in its subsidiaries, intercompany balances and holdings of cash and cash equivalents. CIHL's businesses are conducted through its subsidiaries. The Belize Bank Limited ("BBL") is incorporated and based in Belize and focuses on the provision of financial services and lending to domestic clients. Belize Bank International Limited is incorporated and based in Belize and focuses on the provision of financial services and lending to international clients. CIHL also owns an international corporate services business based in Belize, which operates as Belize Corporate Services Limited. Within Belize, BBL is one of the largest, full service commercial and retail banking operation with a head office in Belize City and eleven branches extended into each of the six districts of Belize. The principal operations of BBL are commercial lending, consumer lending, deposit taking and related banking activities.