June 12, 2026
Scotia Group Jamaica Limited (SGJ) has advised that based on the unanimous recommendation of a committee of Independent Directors of the Board of Directors of the Company, SGJ has entered into a definitive arrangement agreement with its majority shareholder, Scotiabank Caribbean Holdings Limited (SCHL), to take SGJ private whereby, among other things, all of the issued and outstanding shares of SGJ that SCHL does not currently own will be repurchased at a price of JM$61.50 in cash per share (the Transaction), subject to court approval as well as the approval of SGJ’s minority shareholders and other customary closing conditions. SCHL currently owns 71.78% of the issued and outstanding shares of SGJ.
The Company has further advised that it expects to hold court ordered meetings of shareholders to consider and vote on the Transaction in the coming months. If approved at the meetings, the Transaction is expected to close in the fourth calendar quarter of 2026. SGJ has also advised that if the Transaction is completed, there will be no material impact on the current operations of SGJL.
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