CIBC FirstCaribbean sale off – Regulators say no – CARICOM Business

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CIBC says the sale of a large portion of its majority stake in CIBC FirstCaribbean to GNB Financial Group Ltd. will not go ahead after it did not receive approval from regulators.

The Canadian bank had announced in November 2019 that it would sell a controlling stake in the bank for US$797 million.

Extract from CARICOM BUSINESS Vol. 4 No. 6

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