Scotia Group Jamaica Restricted (SGJL) has entered a cope with its majority proprietor, Scotiabank Caribbean Holdings Restricted (SCHL), setting out a proposal to take away SGJL from the inventory market by a buyout of shares not already held by SCHL.
Below the proposed deal, SCHL would purchase all SGJL shares it doesn’t presently personal for J$61.50 ($0.38) in money per share.
At current,
SCHL holds 71.78% of SGJL’s issued share capital.
The J$61.50 provide is about 13% above the 30-day volume-weighted common value of SGJL shares on the Jamaica Inventory Change as of 11 June 2026, which was the ultimate buying and selling day earlier than the transaction was introduced.
SGJL stated the transfer is meant to enhance capital use, working effectivity and Scotiabank’s capability to answer market alternatives.
It added that, if accomplished, the proposal wouldn’t materially alter SGJL’s present operations.
The corporate expects court-directed shareholder conferences to be held within the months forward to evaluation and vote on the proposal.
If shareholders approve it, the deal is predicted to shut within the fourth quarter of 2026, contingent on court docket approval and different normal closing necessities.
Shareholders would be capable to select settlement in both Jamaican {dollars} or US {dollars}, utilizing the weighted common promoting fee for US {dollars} printed by the Financial institution of Jamaica three days earlier than the settlement date.
In Jamaica, the Financial institution of Nova Scotia has operated since 1889 and has round 1,800 workers throughout 28 branches. As of 31 October 2025, SGJL had property of J$774bn.
“Scotia Group Jamaica set to go personal ” was initially created and printed by Retail Banker Worldwide, a GlobalData owned model.
