![]() ![]() The bank has approximately 780,000 active accounts. Maarten, St Vincent and the Grenadines, Trinidad & Tobago and The Turks & Caicos Islands. We look forward to participating in the future growth of FirstCaribbean in this dynamic region”įirstCaribbean has over 3,400 staff, 100 branches and banking centres, and offices in 17 countries comprising: Anguilla, Antigua, The Bahamas, Barbados, Belize, The British Virgin Islands, Curacao, Dominica, Grenada, Jamaica, St. In 2002, CIBC acquired a 43.7 per cent ownership stake in FirstCaribbean when its Caribbean operations were merged with those of Barclays to form First Caribbean.ĬIBC’s President and CEO Gerry McCaughey said: “We are pleased to have concluded this part of the transaction successfully. Both CIBC and FirstCaribbean are committed to maintaining a strong minority ownership that they expect to grow in the future.įirstCaribbean, which is listed on the Barbados, Jamaica, Trinidad and Tobago and the Eastern Caribbean Stock Exchanges, is the largest regionally-listed bank in the English speaking Caribbean, which assets of $12.4 billion and a market capitalization of over US$2.8 billion.ĬIBC’s history in the Caribbean dates to 1920. Under its agreements with CIBC, Barclays will have the option to tender all or a portion of its remaining 66,600,137 FirstCaribbean shares under that offer. ![]() The mandatory offer will also be at a price of US$1.62 a share plus accrued but unpaid dividends. The purchase price paid to Barclays represents US$1.62 for each FirstCaribbean share, plus accrued but unpaid dividends.ĬIBC will now move forward with its planned mandatory offer to all shareholders in FirstCaribbean. First Caribbean International Bank Limited announced that CIBC has purchased 599,401,230 shares of FirstCaribbean under the previously announced plans to acquire Barclays Bank’s 43.7 per cent ownership in the regional financial institution.ĬIBC paid US$988,652,389 in cash. ![]()
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