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Butterfield to acquire CIBC Caribbean in US$1.8-billion deal
The Bank of N.T. Butterfield & Son Limited has agreed to buy the CIBC Caribbean Bank Limited, creating one of the Caribbean's largest banking groups with roughly US$29 billion in combined assets.The deal will buy out Canadian Imperial Bank of Commerce's controlling stake in CIBC Caribbean — the public currently holds the remainder. It’s the third attempt by CIBC to reduce its Caribbean exposure in roughly seven years.
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financialpost.com
CIBC announces deal to sell Caribbean business for US$1.6 billion as it beats profit forecasts
CIBC extended its more than two-year streak of surpassing analyst estimates by showing growth across all its businesses. Read more
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thestar.com
CIBC signs deal to sell CIBC Caribbean for US$1.6B, reports Q2 profit up
TORONTO - CIBC announced a deal to sell its 91.67 per cent interest in CIBC Caribbean to the Bank of N.T. Butterfield & Son for a total of US$1.6 billion
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jamaica-gleaner.com
Butterfield to acquire control of CIBC Caribbean in US$1.8b deal
The Bank of NT Butterfield & Son Limited is set to acquire control of CIBC Caribbean Bank Limited in a US$1.8 billion deal expected to create a regional banking and wealth…
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benzinga.com
Butterfield Shares Climb On $1.8 Billion CIBC Caribbean Acquisition - Bank of N.T Butterfield (NYSE:NTB)
Butterfield announces acquisition of 91.7% stake in CIBC Caribbean for $1.8B, creating a larger financial platform across the Caribbean region.
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CIBC selling Caribbean division for US$1.6 billion as it refocuses efforts on North American market
CIBC is selling its Caribbean division for US$1.6-billion in a move that will allow it to “reallocate significant capital." Read more.
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Butterfield to acquire CIBC Caribbean in US$1.8-billion deal
The Bank of N.T. Butterfield & Son Limited has agreed to buy the CIBC Caribbean Bank Limited, creating one of the Caribbean's largest banking groups with roughly US$29 billion in…