NCB completes Guardian deal

National Commercial Bank Jamaica Limited (NCBJ) announced the completion of the acquisition of 29.99 per cent shareholdings in Guardian Holdings Limited from the Lok Jack Family, the Ahamad Family, IFC and one of IFC’s affiliate entities.

The deal was announced last year but required regulatory approval in a number of regional markets.

The beneficial owner of the GHL shareholding is NCB's nominee and affiliate, NCB Financial Group Limited. The total number of shares acquired was 69.54 million ordinary shares and the acquisition was completed in Trinidad & Tobago.

"The acquisition is consistent with the NCBJ group's drive to grow our regional interests through strategic investments, joint ventures, mergers and acquisitions in order to drive continued growth and shareholder value," said NCB group managing director Patrick Hylton in a release. 

NCB is the largest banking institution in Jamaica with roots dating back to 1837.