NCBFG announces launch of take-over bid to acquire majority stake in GHL

NCBFG today, made public its offer and take-over bid to all shareholders of Guardian Holdings Limited in Trinidad and Tobago. The offer, launched through its wholly-owned subsidiary, NCB Global Holdings Limited (‘NCB Global Holdings’) will be for the acquisition of up to 74,230,750 ordinary shares in GHL for US$2.35 per GHL share. The offer by the NCB Financial Group Limited, would result in NCBFG acquiring controlling interest in GHL which aligns with the Group’s vision. The offer is expected to January 12, 2018. According to NCBFG, “Full acceptance of the Offer would result in a cash payment by NCBFG of the sum of up to approximately US$174,442,262.00 to the shareholders of GHL who accept the Offer.”

Guardian Holdings Limited (GHL) is the parent company for an integrated financial services group known as Guardian Group, with a focus on life, health, property and casualty insurance, pensions and asset management. The announcement follows the Group’s 2016 acquisition  of a 29.99% equity interest in GHL and is associated with the NCB’s Group’s vision and will create a truly “pan-Caribbean diversified financial services conglomerate.”

President and Group CEO of NCBFG Patrick Hylton, noted , “we believe that this partnership will not only support our strategy to expand regionally, but will provide numerous growth opportunities for both NCB and GHL.” The Chairman of NCB Financial Group Limited, Mr. Michael Lee-Chin commented, “we are incredibly excited about the potential this acquisition can unlock for our shareholders, customers and employees – an expanded portfolio and access to new and diverse customers and markets. By leveraging GHL’s scale and resources, our regional expansion plans will be accelerated.”