Sagicor Financial Corporation Completes Business Combination with Alignvest
December 11, 2019
New York - Paul Hastings LLP, a leading global law firm, announced today that the firm has advised Sagicor Financial Corporation Limited (“SFCL”), on the completed business combination with Alignvest Acquisition II Corporation, a special purpose acquisition corporation listed on the Toronto Stock Exchange (“TSX”). SFCL is the market-leading provider of insurance products and related financial services in the Caribbean region. The business combination was previously announced in November 2018.
As a result of the completion of the transaction, all issued and outstanding shares in SFCL have been transferred to Alignvest, with former SFCL shareholders receiving cash or shares in the new entity, Sagicor Financial Company Ltd. (“Sagicor”), which trades on the TSX. 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 Cathleen McLaughlin and Robert Leung and also included partners Eric Keller and David Makso; of counsel Jason Hill and associates Daniel Grossman, Alex Herman, Brooke Schachner, Melanie Sedrish and Bo-Shan Xiang.
At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.