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Republic Financial in talks to acquire Cayman National

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Republic Financial in talks to acquire Cayman National

Republic Financial Holdings Ltd. has entered talks to potentially acquire, through its subsidiary Republic Bank Trinidad and Tobago (Bardados) Ltd., a stake of at least 51% and up to 74.99% in Cayman National Corp. Ltd., the parties said in separate filings.

The potential acquisition would be carried out through a tender offer to Cayman National shareholders, with Republic Financial eyeing an indicative price between US$6.00 and US$6.75 per Cayman National share.

The prospective offer is subject to several conditions, including, among others, a due diligence exercise for the potential purchase, approval from Republic Financial's board and recommendation from the Cayman National board.

Cayman National is the parent of Cayman National Bank Ltd.