Announced
Financials
Tags
financial sercives
Single Bidder
commercial banking
Banks
Barbados
Acquisition
Majority
Public
Friendly
Failed
Synopsis
GNB Financial Group, a subsidiary of Banco GNB Sudameris, a provider of banking services halts the acquisition of a 66.7% stake in CIBC FirstCaribbean, the Caribbean and Barbados-based subsidiary of CIBC. “While this transaction would have supported FirstCaribbean’s long-term growth prospects, it is only one way of creating value for stakeholders,” Harry Culham, CIBC Head of capital markets.
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