Company Moves: FirstCaribbean International Bank, Ladenburg Thalmann, JCRA Group, APS Wealth Management, Markel, Axxium Assurance, Zito

Pedro Gonçalves
clock • 2 min read

CIBC Canadian Imperial Bank of Commerce (CIBC) has reached an agreement to sell a controlling stake in its Caribbean entity FirstCaribbean International Bank to GNB Financial Group. GNB will purchase 66.73% of the shares of FirstCaribbean, subject to the approval of local regulators. Following the close of the transaction, CIBC will remain a 24.9% minority shareholder of FirstCaribbean and will benefit from various minority shareholder protections, as well as liquidity rights in respect o...

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