Scotiabank Caribbean Holdings offers J$61.50 per share to buy out remaining SGJL shareholders in a $774bn deal.
Scotiabank Caribbean Holdings Limited (SCHL) has proposed taking Scotia Group Jamaica Limited (SGJL) private by acquiring all outstanding shares at J$61.50 ($0.38) each. The offer represents a 13% premium over SGJL’s 30-day volume-weighted average price as of June 11, 2026.
SCHL currently owns 71.78% of SGJL’s issued share capital. The deal, valued at approximately $774bn, aims to enhance capital efficiency and operational flexibility without altering SGJL’s core operations. Shareholder meetings are expected in the coming months, with closure targeted for Q4 2026 pending approvals.
Shareholders may opt for settlement in Jamaican or US dollars, based on the Bank of Jamaica’s weighted average exchange rate three days prior to settlement.