The NCB Financial Group has signalled that it is willing to revisit aspects of the takeover bid for Trinidad and Tobago-based Guardian Holdings.
On February 14, NCB's subsidiary, NCB Global Holdings, announced the extension of the bid to purchase a controlling stake in Guardian in light of outstanding approvals.
In a news release on Monday, NCB said on Friday, Trinidad and Tobago's Finance Minister reported at a news conference that he had received advice to the effect that US$45 million in vendor financing contemplated for completion of the transaction should not be applied in the manner being considered.
NCB said once it and its advisors have seen details of the Ministry's position in relation to the vendor financing and any other issues if any to be addressed it will revisit the manner it proposes for settlement and any other revisions to its approach that may be required.
It said a further news release will be issued on the matter.
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