June 13, 2024

NCB Financial Group Limited (NCBFG) has advised that it has entered into a share purchase agreement with Cornerstone Financial Holdings Limited (Cornerstone), a privately held company organised in Barbados, for the sale of 30.20% of its stake in Clarien Group Limited (Clarien Group).

NCBFG has further advised that the completion of this transaction is subject to conditions, including the requisite regulatory approvals. Following the proposed sale, NCBFG will maintain a 19.90% interest in Clarien Group and will provide transition support to Cornerstone, through its subsidiaries. NCBFG has also advised that it’s reduced ownership interest in the Clarien Group will not have a material impact on the future earnings or the asset base of NCBFG after the completion of the sale.

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