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CNC refutes claims of second purchase offer

Cayman National Corporation is refuting claims that a second purchase offer has emerged for its shares.
In a statement issued on Monday (26 November) night, CNC said the Republic Bank Trinidad offer is the only offer on the table for shareholders to consider.
The Barbados-based bank is seeking to acquire more than 75 percent of CNC shares.
Republic has extended its CNC share offer deadline to next week Friday (7 December.)
Meanwhile, on Tuesday (27 November) Republic Bank announced that it has acquired Scotiabank’s Eastern Caribbean operations to the tune of US $123 million.
The Scotiabank assets also include; Guyana and St. Maarten operations.
Cayman’s Scotiabank operations are not impacted by that sale.

Read the CNC statement here: CSX Announcement – CNC Clarifies Mkt Rumours Nov 26

Read the Republic Bank statement here: MEDIA RELEASE- RFHL to Acquire Scotiabank’s Banking Operations in 9 Countries

About the author

Reshma Ragoonath

Reshma Ragoonath

Reshma Ragoonath is a Trinidadian journalist with 18 years media experience with a strong background in print with her most recent stint at The Cayman Reporter. She has a BA in Mass Communications, as well as, an Associate degree in Journalism and Public Relations.

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