Proven To Spend J$1b (US$12m) On Three Acquisitions

The Gleaner is reporting that Proven Investments Ltd will spend over J$1.0b on potential acqusitions in Barbados and the Cayman Islands. They report;

Financial services outfit, Proven Investments Limited, will spend up to US$12 million (J$1.08 billion) to acquire three regional financial entities in the short term.

It will finance the acquisitions with equity and debt to be raised in part from a bond placement planned for next month. The placement is expected to raise between J$750 million and J$1 billion.