November 27, 2018
Sagicor Group Jamaica Limited (SJ) has advised that Sagicor Financial Corporation Limited (SFC), which has a 49.11% interest in SJ, intends to enter into two significant transactions which will result in:
- The acquisition of all shares in Scotia Jamaica Life Insurance Company Limited (SJLIC); and
- The acquisition all of its shares by Alignvest Acquisition II Corporation pursuant to a plan of arrangement whereby the surviving entity will continue the Sagicor brand and be publicly-listed on the Toronto Stock Exchange.
SJ further advised that the transactions are subject to regulatory approval and customary closing conditions. SJ has also advised that a connected party sold 7,000 SJ shares on November 23, 2018