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.
“Currently, we are working on three additional private equity transactions representing approximately US$12 million of investment,” said Proven Chief Executive Officer Christopher Williams.