Alignvest to Acquire Sagicor Financial Corporation Limited for $536 Million
New York - Paul Hastings LLP, a leading global law firm, announced today that the firm is advising Sagicor Financial Corporation Limited, the market-leading provider of insurance products and related financial services in the Caribbean region on a proposed business combination with Alignvest Acquisition II Corporation, a special purpose acquisition corporation listed on the Toronto Stock Exchange.
Alignvest will acquire all of the shares of Sagicor by way of a scheme of arrangement under Bermuda law. The transaction is valued at approximately $536 million and is expected to close in the late first half of 2019, subject to customary shareholder and regulatory approvals. Sagicor operates in 22 jurisdictions, including Barbados, Trinidad & Tobago, and Jamaica, and has a growing presence as a provider of life insurance products in the United States.
The Paul Hastings team was led by partners
Sagicor is a market-leading provider of insurance products and related financial services in the Caribbean.
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