Sagicor Financial Corporation and Canadian company Alignvest Acquisition Corporation have completed their business combination transaction.
It involved the transfer of all issued shares in Sagicor to Alignvest in exchange for shareholders in Sagicor receiving cash or Alignvest shares.
The resulting entity is named Sagicor Financial Company.
As a result of the closing, Sagicor will retain more than US$440 million.
Sagicor expects to use the cash for growth and capital optimization purposes.
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