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Financial News

Apr 2013 Financial News

AMBL - Acquisition of Finance Company in Barbados

Apr 04, 2013

Ansa Merchant Bank Limited (AMBL) has informed the Stock Exchange that the Board of Directors of the Company, at a meeting on March 27, 2013, approved the acquisition of Consolidated Finance Co Limited (CFC). The proposed acquisition price is BDS$53 million.

CFC is a Finance Company in Barbados, licensed under Part III of the Barbados Financial Institutions Act, 1997. CFC is a wholly owned indirect subsidiary of ANSA McAL Limited. AMBL is licensed under the Trinidad and Tobago Financial Institutions Act, 2008, and is majority owned by ANSA McAL Limited.

AMBL has obtained a fair value opinion from an independent valuer. The above transaction is contingent on the receipt of all regulatory approvals.


Source:
The Trinidad and Tobago Stock Exchange LImited
Thursday April 4, 2013