NCB Global Holdings Limited to acquire a majority shareholding in Guardian Holdings Limited
Minister of Finance Colm Imbert wishes to advise that a Licence under the Foreign Investment Act was issued on Monday April, 29th, 2019, to NCB Global Holdings Limited (NCBGHL) to acquire up to 74,230,750 shares in Guardian Holdings Limited (GHL), a local public company.
GHL is the parent company for an integrated financial services group known as Guardian Group, which is involved in life, health, property and casualty insurance, pensions and asset management throughout the Caribbean.
NCBGHL currently holds 69,547,241 shares in GHL, representing 29.99% of the total issued and outstanding shares of GHL
The total number of shares held by NCBGHL in GHL will, after acquisition of the additional amount of shares, increase to up to 143,777,991shares of GHL, representing 61.99% of the total issued and outstanding shares in the company.
The Minister of Finance welcomes this direct foreign investment in our local financial services sector, especially by a company with Caribbean connections, and wishes all concerned all the best in their future endeavours.