Приобретение и перепродажа FirstCaribbean International Bank компанией CIBC

Barbadian subsidiary of CIBC
other banks with a similar name
The deal closed on December 23, 2006.

On March 13, 2006, CIBC and Barclays announced that they had signed a non binding letter of intent enabling CIBC to acquire 43.7% of the shares of FCIB from Barclays. Upon completion of the transaction, CIBC's ownership was to increase to approximately 87.4% of FCIB. CIBC announced on 22 December 2006 that it had purchased 599,401,230 shares of FirstCaribbean from Barclays for US$988,652,389 (representing US$1.62 per share plus accrued but unpaid dividends). Barclays also retained their option to tender all or a part of the remaining holdings of 66,600,137 shares. Thereafter, CIBC proceeded with a mandatory purchase offer to all remaining shareholders at US$1.62 per share and wound up holding 91.5% of First Caribbean International Bank. CIBC Caribbean is not the only Canadian controlled bank in the region: Scotiabank, and the Royal Bank of Canada also have extensive commercial banking businesses in the region and treat the region as a native market.

In March 2018, CIBC announced that it had filed a Registration Statement on Form F 1 with the United States Securities and Exchange Commission relating to a proposed initial public offering (IPO) in the United States of CIBC FirstCaribbean's common shares on the New York Stock Exchange. Through the IPO, CIBC would divest itself of most of its 91.5% stake in FCIB to refocus capital and management resources on its other North American operations. Due to a lack of interest in the American markets for CIBC's share, for "US$240 million by offering 9.6 million shares",

CIBC, which owned in February 2021 nearly 92 per cent of FCIB, announced in late 2019 a transaction by which it would sell its share in FCIB to "GNB Financial Group , a company run by Colombian banker and real estate developer Jaime Gilinski." The transaction "failed to win regulators' approval because of uncertainty about the buyer". According to one report, "GNB Financial agreed to pay US$200 million in cash, and CIBC had promised to finance the rest of the purchase price, keeping a 24.9 per cent stake in FirstCaribbean in the process The lead regulator reviewing the deal was the Central Bank of Barbados, with additional oversight from the Eastern Caribbean Central Bank." The CIBC is in a hunt for capital to increase its CET1 ratio.

As well as providing financial services to residents of the Caribbean countries where it operates, CIBC Caribbean is also a provider of offshore financial services to non residents.