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CIBC Halts US$797 Million Caribbean Sale as Regulators Reject Deal
Canadian Imperial Bank of Commerce is now stuck with a business that had been declining in value
@business
Canadian Imperial Bank of Commerce is now stuck with a business that had been declining in value
@business
#CIBC announced the sale of the two-thirds stake in CIBC FirstCaribbean to a company run by Colombian billionaire Jaime Gilinski in Nov 2019
The deal, would have left CIBC with a 25% stake in the #Barbados-based bank. This valued FCIB at about US$1.2 billion, less than half of its $2.8 billion value when CIBC took over most of the business.
