It's a done deal!!!
RBTT shareholders gave the nod for the bank's US$.2 billion sale to the Royal Bank of Canada.
Although hundreds of emotional minority shareholders voted against the sale of the bank during a special meeting in Trinidad yesterday, institutional shareholders gave the green light.
According to a report in Thursday's issue of the Trinidad Express newspaper, vote count results showed that shareholders voted 98.1 per cent in favour of the sale.
Institutional investors like the National Insurance Board and Guardian Holdings Limited led the voting in favour of Royal Bank taking over RBTT.
The sale involves RBTT branches across the region including Jamaica.
Royal Bank, which is Canada's largest financial institution, will combine its Caribbean operations with RBTT.
The merged operations will be based in Port-of-Spain.
Royal Bank, which has more than US$13 billion in assets, operated in Trinidad for more than 80 years before pulling out in 1985.
RBTT shareholders gave the nod for the bank's US$.2 billion sale to the Royal Bank of Canada.
Although hundreds of emotional minority shareholders voted against the sale of the bank during a special meeting in Trinidad yesterday, institutional shareholders gave the green light.
According to a report in Thursday's issue of the Trinidad Express newspaper, vote count results showed that shareholders voted 98.1 per cent in favour of the sale.
Institutional investors like the National Insurance Board and Guardian Holdings Limited led the voting in favour of Royal Bank taking over RBTT.
The sale involves RBTT branches across the region including Jamaica.
Royal Bank, which is Canada's largest financial institution, will combine its Caribbean operations with RBTT.
The merged operations will be based in Port-of-Spain.
Royal Bank, which has more than US$13 billion in assets, operated in Trinidad for more than 80 years before pulling out in 1985.
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