Scotia Group Jamaica set to go private

Scotia Group Jamaica Limited (SGJL) has entered a woody with its bulk owner, Scotiabank Caribbean Holdings Limited (SCHL), mounting retired a connection to region SGJL from the banal marketplace done a buyout of shares not already held by SCHL.

Under the projected deal, SCHL would get each SGJL shares it does not presently ain for J$61.50 ($0.38) successful currency per share.

At present,

SCHL holds 71.78% of SGJL's issued stock capital.

The J$61.50 connection is astir 13% supra the 30-day volume-weighted mean terms of SGJL shares connected the Jamaica Stock Exchange arsenic of 11 June 2026, which was the last trading time earlier the transaction was announced.

SGJL said the determination is intended to amended superior use, operating ratio and Scotiabank's quality to respond to marketplace opportunities.

It added that, if completed, the connection would not materially change SGJL's existing operations.

The institution expects court-directed shareholder meetings to beryllium held successful the months up to reappraisal and ballot connected the proposal.

If shareholders o.k. it, the woody is expected to adjacent successful the 4th fourth of 2026, contingent connected tribunal support and different modular closing requirements.

Shareholders would beryllium capable to take colony successful either Jamaican dollars oregon US dollars, utilizing the weighted mean selling complaint for US dollars published by the Bank of Jamaica 3 days earlier the colony date.

In Jamaica, the Bank of Nova Scotia has operated since 1889 and has astir 1,800 employees crossed 28 branches. As of 31 October 2025, SGJL had assets of J$774bn.

"Scotia Group Jamaica acceptable to spell backstage " was primitively created and published by Retail Banker International, a GlobalData owned brand.