NCB Financial Group Limited (NCBFG) has announced that NCB Capital Markets Limited (NCBCM), a subsidiary of NCBFG has entered into a share purchase agreement with Sagicor Investments Jamaica Limited, Fundy Bay Equity Holdings Limited(affiliated with Mark Thompson) and Resource in Motion Limited (affiliated with Donovan Lewis) for the sale of NCBCM’s 100% stake in Advantage General Insurance Company Limited.
NCBFG also advised that the Share Purchase Agreement contemplates that the shares will be sold for a consideration of US$50,500,000.00 (J$6,592,775,000.00).
Completion of the transaction is subject to regulatory approval.
