Regional insurance conglomerate Sagicor Financial Company, the parent for Sagicor Group Jamaica, has acquired nearly US$5 million worth of shares in Playa Hotels & Resorts.
The Sagicor network now holds 16 per cent of Playa shares, mostly through Sagicor Group Jamaica and its managed funds. The 1.5 million Playa shares were purchased in mid-June.
According to market filings to the U.S. Securities and Exchange Commission the transaction increased the shares held by Sagicor Financial and Sagicor Group Jamaica to 21.5 million units.
Playa trades on the Nasdaq exchange in New York.
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