ANALYSTS are projecting a smooth process of transfer to take place as Sagicor Group Jamaica (SGJ) seeks to acquire Alliance Financial Services Limited (AFSL). Sagicor announced on Wednesday that it had entered into a definitive agreement for the purchase of 100 per cent of the shares in the AFSL. The agreed purchasing price was, however, not disclosed.

An analyst attached to one of the big four accounting firms, who commented but did not want his name used, said about the transaction, “They will need FSC (Financial Services Commission) approval and the BOJ (Bank of Jamaica) depending on the licences involved; and they only disclosed the transaction because JSE (Jamaica Stock Exchange) rules requires same, but the transaction is not closed.” He noted that the due diligence process will also precede the securing of approvals.

https://www.jamaicaobserver.com/business-report/clear-skies-ahead-expert-sees-no-regulatory-hurdles-in-sight-for-sagicor-in-alliance-deal_243630