WILLEMSTAD - According to credible sources, there is nothing in the way that could stop the acquisition of Banco Di Caribe by UNITED Group Holdings. This acquisition was announced last year. Although the legally required supervisory assessment has lasted longer than anticipated, but recently green light has also been given by the Central Bank (CBCs).

Earlier, on September 11, 2021, the same CBCs placed a signature under the sales agreement. That document was signed by Seller ENNIA Caribe Holding (ECH), represented by the Central Bank under the emergency regulation, and the buyer United Group Holdings owned by Gregory Elias. The sale was conditional to successful completion of the legally required supervisory assessment. This was to be completed in the fourth quarter of that year.

But now a few months later, the test has been completed and the parties can proceed to the 'closing', that is, the buyer pays the acquisition sum, and the seller transfers the shares of Banco Di Caribe. Allegedly, the General Pension Fund Curaçao (APC) will participate in the 'new BDC'. Probably APC will initially provide a loan and later - after acquisition by United - convert to share capital.

As part of United, BDC will see further growth. United is described by the Central Bank as an established financial service provider active in Curaçao and six European countries, including financial centers such as Amsterdam, London and Luxembourg.

The Central Bank says that the sale of BDC is also an important step in the financial recovery of the Ennia group. The proceeds will be directly made available to Ennia Caribe Life, which contributes to a lower risk profile and optimization of its assets for its policyholders.