GraceKennedy Limited (GK) has announced that one of its associated companies in Barbados, Signia Financial Group Inc., has acquired Globe Finance Inc.
The acquisition will result in the formation of the amalgamated company, which will be known as SigniaGlobe Financial Group Inc.
GK currently holds a 40% shareholding in Signia and will hold the same 40% stake in the new entity, SigniaGlobe Financial Group Inc.
The transaction is estimated to cost a total of BBD11.8 million. GK Capital Management Limited, the investment and advisory arm of GK, advised Signia in the transaction.