NCB Financial Group Limited (NCBFG) Acquires Majority Stake in Bermudan Bank

NCB Financial Group Limited announced today a transaction under which NCB will acquire a majority stake in Clarien Group Ltd, owner of Clarien Bank Ltd based on Hamilton Bermuda. NCB will acquire a 50.1% majority stake in CGL. Funds managed by the Portland Private Equity will hold 17.92% and Edmund Gibbons (once the sole shareholder) will retain 31.98%.