Caribbean Investment Holdings, a holding company, completed the acquisition of the Belize operations of Scotiabank, a Canadian multinational banking and financial services company, for $30m. "The Board of CIHL has been exploring potential acquisition opportunities in line with its previously disclosed expansion strategy. The Board of CIHL believe that the purchase of SBL is an opportunity for the Group to expand its existing banking operations in Belize and that there are synergies between the Group's current banking operations and the operations of SBL. As a consequence of the Acquisition, the Group's banking operations in Belize will be significantly expanded. The Acquisition is expected to be immediately earnings enhancing to CIHL," Caribbean Investment Holdings.