GNB halts the acquisition of a 66.7% stake in CIBC FirstCaribbean.

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.